TheNasdaqand S&P 500 each plunged nearly 6%.
Media shares were not spared from the reckoning.
(CinemaCon trade or another Reddit-led retail revolt?
Traders work on the floor of the New York Stock ExchangeSpencer Platt/Getty Images
Hard to say.)
Notable decliners included Disney (-6%), Warner Bros.
Individual shares of large companies were hammered to an unusual extent as investors reacted to sweeping and higher-than-expected tariffs.
Amazon slipped just 1%, while Netflix tumbled 5%.
Futures markets began sinking as he was talking.
A baseline 10% reciprocal tariff was put in place on all trading partners, with varying country-specific rates.
The European Union also faces a 20% tariff.
The measures will take effect in stages over the next week.
