Markets retreat as U.S.-China trade war worsens

Tesla lost more than 10 percent Thursday, while Amazon and Apple slid more than 7 percent.

April 10, 2025 at 1:58 p.m. EDT
today at 1:58 p.m. EDT

By Abha Bhattarai and Aaron Gregg

The stock market’s sigh of relief was short-lived.

A day after President Donald Trump rolled back tariffs on dozens of countries, leaving sharper tariffs for China alone, investors got nervous again with stocks falling sharply on the escalating bilateral trade war.

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Stocks fell sharply Thursday, clawing back much of Wednesday’s gains, as attention shifted to rising tensions between the United States and China.

The S&P 500 fell nearly 6 percent by early afternoon and tech-heavy Nasdaq composite index lost 7 percent, while the more narrow Dow Jones Industrial Average dropped 5 percent. If the trend holds up for the rest of the day, it would unwind much of Wednesday’s gains, in which the S&P 500 rose almost 10 percent. All three major indexes are down significantly from where they started the year ...

https://www.washingtonpost.com/business/2025/04/10/stock-market-trade-tariffs/