Trillion-Dollar Losses for U.S. Stocks Amidst Tariff Imposition
April 3, 2025, 4:27 pm

Trillion-Dollar Losses for U.S. Stocks Amidst Tariff Imposition

الأسهم الأمريكية

U.S. stocks suffered significant losses at the opening of trading on Thursday, sharply declining amid concerns about the impact of the comprehensive tariffs imposed by President Donald Trump on the American economy.

The S&P 500 index fell by 3.4% during early trading, while the Nasdaq Composite dropped by 4.6%, affected by an 8% decline in Apple’s share price. Bloomberg reported that U.S. stocks lost approximately two trillion dollars in the first trading session following the announcement of the tariff decision by the U.S. government.

This sharp decline came as investors grew concerned about escalating trade tensions and their negative effects on the global economy, leading to widespread selling in U.S. stock markets. At the same time, the dollar declined by 2.4% against a basket of major currencies, marking its largest daily drop since 2015.

Oil prices also fell, with Brent crude, the global benchmark, dropping by 6% to $70.42 per barrel, while West Texas Intermediate crude fell by 6.5% to $67.03 per barrel.

Francesco Pesole, a currency strategy expert at ING Bank, commented, “What we are witnessing is a loss of confidence in dollar-denominated assets in general,” referring to the implications of Trump’s economic policies. A report published by the Financial Times noted that investors see this as a vote of no confidence in the current administration.

These repercussions follow Trump’s announcement of a 10% tax on most U.S. imports starting April 5, which covers dozens of countries, including China, which will be subject to further tariffs beginning on April 9.

European stocks were also affected, with the Stoxx Europe 600 index falling by 2.3% due to a broad sell-off of export-dependent company stocks.

Donald Trump wrote on his platform "Truth Social" on Thursday: “The operation is over! The patient survived and is recovering.” He clarified that forecasts suggest the U.S. economy will be “stronger, bigger, better, and more resilient than ever.”

For her part, White House spokesperson Caroline Levitt attempted to calm the markets, encouraging investors to trust President Trump, emphasizing that the tariffs would ensure the United States is not cheated by foreign countries.

However, the current economic situation continues to raise concerns among investors, fearing that the tariffs could lead to slower economic growth and increased inflation, which further exacerbated the significant losses witnessed on Wall Street.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”