S&P 500 is experiencing its largest loss in the last 5 years

Following reports that U.S. tariffs on Chinese products have reached 145 percent, the S&P 500 index recorded its largest decline in the last 5 years, Interfax.ru reported. On Thursday, U.S. stock indices sharply fell.

The Dow Jones Industrial Average dropped by 5.06%, the S&P 500 by 5.92%, and the Nasdaq Composite by 6.8%. During the trading session, the S&P 500 fell by 6.1%, marking its largest daily loss since March 2020.

U.S. President Donald Trump raised tariffs on China from 84 percent to 125 percent on April 9, and a previous 20 percent tariff was also imposed due to the fentanyl issue. As a result, the overall tariff rates reached 145 percent.