On Thursday, the major Wall Street indices suffered their most significant one-day percentage losses in years. This drastic drop was caused by an unexpected move from the Trump administration to impose strict tariffs on imported goods. This decision not only heightened fears of a full-blown trade war but also reignited concerns about a potential global economic recession.

The global stock market exhibited significant movements following recent corporate earnings reports by major players such as Alphabet $GOOGL and Advanced Micro Devices $AMD. These reports have had a direct impact on key Wall Street indices, creating tension in the technology sector and presenting challenges for market participants.