US stocks nosedived on Thursday, with the Dow tumbling as much as 1,500 points as President Trump's surprisingly steep 'Liberation Day' tariffs sent shockwaves through markets worldwide. The tech-heavy Nasdaq Composite (^IXIC) led the sell-off, plummeting as much as 5.6%. The S&P 500 (^GSPC) dove 4.4%, while the Dow Jones Industrial Average (^DJI) tumbled more than 3.6%. Among megacap techs, Apple (AAPL) shares fell over 8% amid concerns about disruption to its supply chain. China, the source of key iPhone components, was hit with additional US tariffs that raised its overall rate to 54%. Nvidia (NVDA) and other chip stocks also tumbled thanks to similar concerns. The two-step approach to tariffs unveiled by Trump on Wednesday imposes a baseline rate of 10% on all US trading partners but applies extra duties to countries considered 'bad actors' on trade — meaning they face much higher rates. The levies go into effect on April 5 and April 9, respectively. In total, some 185 counties are impacted by the tariffs, and the new duties set the effective US tariff rate at its highest level in over 100 years. Stocks around the world sold off as the likelihood of retaliation from trading partners fueled fears of full-on trade war and a severe hit to global growth. The pan-European benchmark Stoxx 600 (^STOXX) sank over 2%, while Japan's Nikkei 225 slumped 2.7% to its lowest level since August. Wall Street is digging into the fallout for US sectors and companies. Shares in retailers Walmart (WMT), Target (TGT), and Nike (NKE) fell, with risks to supply from Asian manufacturing hubs in focus. The prospect of a trade war sparking a slowdown — or worse, a recession sent commodities lower across the board. Gold futures (GC=F) pulled back from their record high on Thursday morning but were still outperforming the rest of the commodity complex as investors reacted to President Trump’s reciprocal tariff announcement. Futures fell more than 1% amid an overall market sell-off. Meanwhile, copper (HG=F) sank nearly 4% over fears of deteriorating demand in an escalating trade war. Oil sank more than 7% with losses accelerating after the Organization of Petroleum Exporting Countries and its allies (OPEC+) announced it will hike oil supplies more than expected in May.

Stock market today: S&P 500, Nasdaq tank, Dow drops over 1,400 points as Trump's tariffs rip through markets worldwide

Global markets experienced a significant downturn on April 27, 2025, following President Trump's announcement of steep 'Liberation Day' tariffs on April 5 and 9. The Dow Jones Industrial Average fell over 1,500 points, while the tech-heavy Nasdaq Composite and S&P 500 also saw significant declines. The tariffs, which include a 54% rate on China and 10% on other trading partners, have raised concerns about a potential trade war and its impact on global growth.