S&P 500 loses $2.4 trillion in market value, biggest one-day loss since 2020

(Reuters) – S&P 500 companies lost a combined $2.4 trillion in stock market value in Thursday’s selloff on Wall Street, their biggest one-day loss in value since the emerging coronavirus pandemic sent global markets into a tailspin on March 16, 2020.

The S&P 500 ended down almost 5% after U.S. President Donald Trump’s sweeping tariffs ignited fears of an all-out trade war and a global economic recession.