Washington, April 3 (H.S.): U.S. President Donald Trump's announcement of extensive tariffs has caused significant turmoil in the stock market. By Wednesday evening, Dow futures plummeted over 1,000 points, with the Dow Jones Industrial Average dropping 1,100 points (2.7 percent), S&P 500 futures decreasing by 3.9 percent, and Nasdaq-100 futures falling by 4.7 percent.

Trump argued the tariffs would reduce America's reliance on foreign imports. However, economists warn that these actions could push the economy into recession, exacerbating fears of an international trade war. Stocks of major companies like Nike and Apple fell by 7 percent, while Amazon dropped over 5 percent. Companies heavily dependent on imports faced the steepest declines, with Dollar Tree falling 11 percent and Five Below dropping 15 percent.

During his announcement, Trump termed it liberation day, claiming it would revitalize American industry, but economists like Kara Reynolds and Mark Zandi cautioned about impending recession risks.

Hindusthan Samachar / Jun Sarkar