The US stock market closed Thursday with the biggest one-day drop since 2020, sparking concern about an oncoming recession. 

The Details: S&P 500 companies lost $2.4 trillion in stock value, a 4.8% drop overall, after President Donald Trump announced new tariffs, which are the steepest the US has levied in over 100 years. Some economists and investors have expressed concern that the tariffs and this market drop suggest higher chances of a recession than previously predicted.

What Industries Were Affected: Airlines, clothing, retailers, restaurants, banks, and technology companies saw the biggest losses. United Airlines stock, for example, dropped 15.6% Thursday, and Amazon and Apple stock both dropped 9%. Automakers, on the other hand, were not hit as hard, with General Motors down only 4.3% and Ford only 6%.

How the Media Covered It: Outlets from the left and center highlighted concerns over a potential recession. An Associated Press (Left bias) headline read, “Fear that Trump tariffs will spark recession wipes out more than $2 trillion in value from US stocks,” and it quoted an economic researcher saying “many countries will likely end up in a recession” as a result of the tariffs. Reuters (Center) cited investors “bracing for the increasing chance” of recession, but it also included a quote from Trump saying, “I think it’s going very well.” Newsmax (Right) focused on the Trump administration’s confidence in the long-term benefits of the tariffs, with a headline stating J.D. Vance is “'Feeling Good' About Tariffs Despite Bad Day.”

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