The U.S. stock market has experienced its most brutal week in five years, with a market capitalization of $3 trillion evaporating.

[The US stock market experiences its bloodiest week in five years, with $3 trillion in market capitalization evaporated] According to foreign media reports, major US stock indices recorded their largest weekly drop since March 2020, following Trump’s announcement of a tariff plan that exceeded expectations, raising concerns about global economic growth. “The reason for today’s big dump in the stock market is that buyers are indeed lacking,” said BMO Private Wealth Chief Market Strategist Carol Schleif, as people are waiting to see how the initial (trade) negotiations/reprisals progress, not knowing how much of a fall would be considered “enough.” The Dow Jones Industrial Average is currently down 14.9% from its record closing high, and the S&P 500 is down 17.4% from its record closing high. The Nasdaq index has fallen 22.7% from its closing record set on December 16 last year, confirming that it has entered a Bear Market. Today, the US stock market has evaporated over $3 trillion in market capitalization. On Friday, Federal Reserve Chairman Powell did not provide a short-term answer on how tariffs would affect monetary policy, stating, “We are facing a highly uncertain outlook, with rising risks of unemployment and inflation.” Additionally, other stock markets in the Americas were also dragged down, with the Toronto Stock Exchange confirming it has entered a correction, closing down over 10% from its historical high set on January 30. Argentina’s main stock index fell 7.4% at the preliminary close. Mexico and Brazil’s main stock indices fell by more than 5% and 3%, respectively.