Stock Market Today: This Trade War Just Got Real

It’s 2025, and apparently tariffs are back in style.

Markets across the U.S. and Canada took a hit this morning after President Trump announced a 104% tariff on Chinese imports, triggering an instant response from Beijing with an 84% tariff on U.S. goods. The trade war is officially back on—and investors are feeling the heat.

Here’s your need-to-know market recap:

#📉 Wall Street’s Wipeout

• S&P 500: Down sharply, with over $5.8 trillion in value wiped out since the tariff news broke.

• Dow Jones: Opened deep in the red and clawed back slightly, but still down for the day.

• Nasdaq: Volatile, as Big Tech wobbled but tried to rally.

Markets hate surprises. This one was made worse by fears that China’s retaliation will drag out an already shaky global recovery. Add rising bond yields and falling oil prices to the mix, and you’ve got a market that’s suddenly questioning its 2025 optimism.

#💡 Quick Hits: What’s Moving

• Apple and Nvidia got caught in the crossfire early but recovered some ground mid-morning. Investors are betting supply chains won’t be wrecked just yet.
  Is Apple Still a Buy?

• Delta Air Lines beat earnings estimates but said it has “no idea what’s coming next.” Translation: guidance withheld.

• Walmart somehow came out stronger. The stock climbed even as investors weighed how the tariffs will impact margins.

#📈 Treasury Yields Jump

The 10-year Treasury yield surged to 4.46%, a sign that investors are baking in higher inflation—or just bracing for chaos. Either way, the move puts pressure on growth stocks and raises borrowing costs across the board.

#🛢️ Oil Slips Again

Crude prices have fallen five days in a row and just hit their lowest point since February 2021. Demand concerns are driving the sell-off, especially with global trade possibly grinding to a slower pace.

#🇨🇦 Canada Caught in the Middle

• The S&P/TSX Composite Index followed U.S. markets lower, weighed down by trade-sensitive sectors like energy and materials.

• Futures dropped hard overnight as Canada braced for spillover effects from the tariff battle between its two biggest trading partners.

At the same time, Japan and Canada announced they’ll work together to “stabilize markets.” It’s unclear what that means in practice, but the statement signals rising concern about ripple effects.

#👀 Jamie Dimon Isn’t Feeling Great

JPMorgan CEO Jamie Dimon dropped a reality check this morning, warning that a U.S. recession is now a “likely outcome” if trade tensions escalate further. Not what markets wanted to hear before coffee.

#🧠 Strategy Corner: What You Can Do Now

Here’s how to think about your portfolio today:

• Diversify smartly. Avoid concentration in sectors directly hit by tariffs, like industrials and semiconductors. Read: Diversify your portfolio.

• Look for defense. Consumer staples and utilities tend to hold up better in volatile markets.

• Focus long-term. Knee-jerk reactions to geopolitical events often lead to overcorrections—this could be a buying opportunity if you’re selective.

• Stay liquid. In uncertain markets, having some dry powder helps you stay flexible.

#Bottom Line

The tariff trade war is more than just headlines - it’s shifting market sentiment and pressuring company earnings across sectors. For investors, this is a test of patience, discipline, and risk tolerance. Don’t panic, but don’t fall asleep at the wheel either.

Check back tomorrow to see how it plays out.