market loses $11 trillion since Inauguration Day
Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.Some $6.6 trillion of that figure was lost on Thursday and Friday alone — the largest two-day wipeout of shareholder value on record, Dow Jones data showed. U.S. Market CapU.S. stocks have wiped away more than $11 trillion since Inauguration DaySource: Dow Jones Market Data
Many investors were caught flat-footed on Wednesday when Trump unveiled sweeping global tariffs that were much larger than expected.
Financial markets have since been heaping pressure on the administration to step in and pare back the planned levies or to announce meaningful progress toward a deal, said Kathleen Brooks, research director at XTB, in emailed commentary Friday. President Trump earlier in the session touted a productive phone call with the leader of Vietnam in a post on Truth Social. Shares of Nike Inc. Recession risks remained front and center Friday. Even a stronger-than-expected March jobs report wasn’t enough to lift investors’ mood. As the weekend approached, fears were focused on a trade-war escalation where “the U.S. doesn’t back down,” said Jay Woods, chief market strategist at Freedom Capital markets, in comments shared with MarketWatch via email. “If we are to punch back, you could have damaging effects to not only the tech sector, but the economy overall. This could throw us into a recession and could end the bull market as we know it.”
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