Stocks fell again Friday, the second consecutive day of steep losses after President Donald Trump enacted reciprocal tariffs on dozens of U.S. trade partners.
The Dow Jones Industrial Average dropped 2,200 points Friday, or 5.5% of its value, its biggest drop since 2020 during the height of the COVID-19 pandemic. The Dow fell 1,679 points on Thursday.
Nasdaq and the S&P 500 also suffered significant losses. Nasdaq dropped by 5.8% Friday after falling 6% on Thursday. S&P closed with a 5.97% loss, after losing 4.84% in value Thursday.
Trump said the markets will rebound after the tariffs generate new manufacturing and other jobs in the U.S. and generate $6 trillion to $7 trillion in revenue.
