Wall Street was pummeled for a second straight day on Friday, with prominent media and tech stocks like Warner Bros. Discovery, Comcast and Apple taking a beating following President Trump’s new tariff plan.
The three major indexes all took major hits, with the Nasdaq dropping 5.82%, the S&P 500 dropping 5.97% and the Dow Jones dropping 5.50%. Friday’s sell-off marked the biggest single-day decline for the S&P 500 and Dow since COVID smacked the market in March 2020; Nasdaq’s Friday drop was its second-biggest since 2020, only trailing its Thursday sell-off for that unsavory title.
Apple, which has devices like the iPhone assembled overseas in China, India and Vietnam, has been rocked by the president’s tariff plan.