U.S. investors face historic losses following President Trump’s sweeping tariff policies, known as “Liberation Day”. The markets endured the fourth-worst two-day slump in history, as the S&P 500 plummeted over 10.5%, wiping out trillions in market capitalization.

Market Reaction to Turbulent Tariffs

Deutsche Bank characterized the tariff announcement as the most disruptive event since the collapse of Bretton Woods in 1971. The sudden tariffs undermine economic credibility and threaten the longstanding global trade framework.

Traders are now assessing how the tariff changes will affect financial performance across industries, particularly those reliant on international trade.