The US stock market has experienced its bloodiest week in five years, with $3 trillion in market capitalization evaporated.

According to foreign media reports, major U.S. stock indexes recorded their biggest weekly decline since March 2020, after Trump announced a larger-than-expected tariff plan, raising concerns about global economic growth. “The reason for today’s plunge in the stock market is that there is a real lack of buyers,” said Carol Schleef, chief market strategist at BMO Private Wealth, adding that people have been waiting to see how the initial (trade) talks/retaliation are going and don’t know how to assess how much of the decline is “enough”. The Dow Jones is currently down 14.9% from its record close, and the S&P 500 is down 17.4% from its record close. The Nasdaq is down 22.7% from the closing record set on December 16 last year and has confirmed a bear market. U.S. stocks wiped out more than $3 trillion in market value today. On Friday, Fed Chair Jerome Powell also did not give a short-term answer on how tariffs would affect monetary policy, saying: “We face a highly uncertain outlook, with both unemployment and inflation risks rising.” "In addition, other stock markets in the Americas were also dragged down, with Canada’s Toronto Equity Index confirming a correction and closing down more than 10% from its all-time high set on January 30. Argentina’s main stock index fell 7.4% at the preliminary close. Major stock indexes in Mexico and Brazil fell more than 5% and 3%, respectively.