US Stock Market Plunges: Asian Markets Reel, Trump Says It Was Expected

A day after US President Donald Trump announced his far-reaching tariffs, the US stock market faced a brutal sell-off, with the S&P 500 plummeting nearly 5%, erasing over $2 trillion in value — the worst drop since 2020. Investors panicked as President Donald Trump’s sweeping tariffs fuelled recession fears and uncertainty. Tech giants like Tesla, Nvidia, and Apple saw massive declines, with Tesla alone shedding over 6% in after-hours trading. The chaos spilled over into Asian markets, which opened sharply lower on April 4, 2025. Japan’s Nikkei 225 tumbled over 4%, South Korea’s KOSPI dropped 2.7%, and Hong Kong’s Hang Seng slid 2.4%, reflecting global unease over Trump’s aggressive trade policies targeting China, Japan, and others. In a surprising twist, Trump addressed the mayhem, stating, “The market’s reaction was anticipated,” suggesting he foresaw the economic turbulence as part of his strategy to “bring wealth back to America.” Critics argue his tariffs could tip the US into a recession, while supporters claim it’s a necessary shake-up.