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US stocks nosedived on Thursday, with the Dow tumbling more than 1,200 points as President Trump's surprisingly steep "Liberation Day" tariffs sent shockwaves through markets worldwide.
The tech-heavy Nasdaq Composite (IXIC) led the sell-off, plummeting over 4%. The S&P 500 (GSPC) dove 3.7%, while the Dow Jones Industrial Average (^DJI) tumbled roughly 3% — nearly 1,200 points.
Among megacap techs, Apple (AAPL) shares fell over 7% amid concerns about disruption to its supply chain. China, the source of key iPhone components, was hit with additional US tariffs that raised its overall rate to 54%. Nvidia (NVDA) and other chip stocks also tumbled thanks to similar concerns.
