Wall Street Wipes Out $2 Trillion, Apple Eyes Worst Day Since COVID-19 Pandemic, Oil Plummets: What’s Driving Markets Thursday?
Posted On April 3, 2025
President Donald Trump‘s sweeping new trade tariffs sent shockwaves through global markets on Thursday, triggering a massive sell-off that echoed the COVID-19 pandemic-era routs, as investor risk appetite vanished in a flash.
Wall Street saw a staggering $2 trillion in market cap erased, with the U.S.’s biggest 10 companies shedding $1 trillion alone.
Apple Inc. (NASDAQ:AAPL) plunged 8.7%, staring down its worst day since March 2020 and wiping out nearly $300 billion in value. NVIDIA Corp. (NASDAQ:NVDA) tumbled 6.4%, losing $171.9 billion, while Amazon.com Inc. (NASDAQ:AMZN) dropped 8%, on pace for a $166 billion hit.
| Company | % Daily Change | Market Cap Loss ($B) |
|---|---|---|
| Apple | -8.74% | -293.95 |
| NVIDIA | -6.38% | -171.89 |
| Amazon | -8.03% | -166.80 |
| Meta Platforms Inc. (NASDAQ:META) | -6.64% | -98.24 |
| Alphabet Inc. (NASDAQ:GOOGL) | -3.26% | -62.74 |
| Broadcom Inc. (NASDAQ:AVGO) | -7.63% | -61.74 |
| Microsoft Corp. (NASDAQ:MSFT) | -2.04% | -57.96 |
| Tesla Inc. (NASDAQ:TSLA) | -5.80% | -52.76 |
| JPMorgan Chase & Co. (NYSE:JPM) | -6.69% | -45.99 |
| Bank of America Corp. (NYSE:BAC) | -9.93% | -31.60 |
| Total | -1043.67 |
The S&P 500 fell nearly 4%, poised for its worst session since September 2022, and sank to a …
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