
Wall Street tumbles as Trump tariffs and falling AI stocks drag Nasdaq 10% below its record
Hindustan TimesWall Street’s sell-off kicked back into gear on Thursday, and a U.S. stock market rattled by the whiplash created by President Donald Trump’s tariffs and uncertainty about the economy fell sharply. “But even if they are ultimately removed, we anticipate lasting damage to global economic activity.” When asked whether his delays on tariffs reflected the slump for the stock market, Trump said Thursday, “I’m not even looking at the market.” He earlier in the Oval Office blamed the falling prices on “globalist countries and companies that won’t be doing as well because we’re taking back things that have been taken from us many years ago.” Next up for Wall Street is a report coming Friday from the U.S. Labor Department on how many workers U.S. employers hired last month. It was a similar story for Victoria’s Secret, which beat Wall Street’s fourth-quarter sales and profit forecasts but gave a revenue forecast for the upcoming year that fell short of analysts’ expectations. China’s commerce minister said Thursday that his country will not yield to bullying and that its economy can weather higher tariffs imposed by Trump, though he added that there are “no winners in a trade war.” In the bond market, the 10-year Treasury yield edged up to 4.29% from 4.28% late Wednesday.
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