Stocks fell sharply on Thursday, with the S&P 500 decreasing by 1.8%, marking a significant loss of 3.6% for the week. This decline follows the Trump administration's recent tariff impositions on Canada and Mexico, raising concerns about inflation, economic slowdowns, and impacts on American businesses. Although there was a slight recovery on Wednesday driven by tech stocks, investor anxiety persisted despite some tariff exemptions. The S&P 500 is nearing a correction mark, reflecting broader market instability as both the Nasdaq Composite and Russell 2000 indices have already entered correction territory.
Stocks dropped substantially on Thursday, demonstrating the market's reaction to tariff implications, with fears of inflation and economic slowdown hovering over investors.
Despite a small recovery on Wednesday, the announcement to exempt certain auto manufacturing from tariffs did little to alleviate investor fears regarding the overall economic impact.
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