The S&P 500 Index ($SPX) (SPY) today is down -3.58%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -3.24%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -3.90%. June E-mini S&P futures (ESM25) are down -3.66%, and June E-mini Nasdaq futures (NQM25) are down -3.94%.
Stock indexes are sinking today, with the S&P 500 and Nasdaq 100 falling to 6-1/2 month lows and the Dow Jones industrials sliding to a 3-week low. Stocks are plunging today because of concerns that President Trump's trade policies will push the economy into recession. Late Wednesday, President Trump announced reciprocal tariffs that were worse than feared, hammering stocks and the dollar and prompting a risk-off mood in asset markets. The plunge in stocks has fueled a flight to safety into government bonds, with European government bond yields falling to 4-week lows and the 10-year T-note yield dropping to a 5-1/2 month low.
