10 Shocking Numbers That Explain How Trump’s Tariffs Triggered $9.5 Trillion Sell-Off

Global markets were thrown into turmoil on Monday, April 7 as a deepening three-day selloff erased a staggering $9.5 trillion in market capitalization, pushing major equity indices into bear territory, according to a Bloomberg report. The catalyst? An aggressive new wave of tariffs unveiled by U.S. President Donald Trump, coupled with an unyielding stance on the economic consequences.

The term “Black Monday” made it to the headlines again as global markets faced a blood bath. Many European stocks fell to 16-month lows and Asia witnessed its worst trading session since the 2008 crisis. As recession fears surged, investors flocked to traditional safe havens like the U.S. Treasuries and the Japanese yen, while stocks, commodities, and cryptocurrencies all plummeted. Below are eleven eye-popping figures that reflect how bad was the global fallout:

Apple, Amazon, Alphabet, etc. Lose $2 Trillion in One Day!

The once-invincible “Magnificent Seven,” including Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla collectively shed nearly $2 trillion in value in a single day. Tesla dipped 7%, Apple 6.3%, and Nvidia over 7%. Fears are mounting that Trump's tariffs could erode profit margins and disrupt global supply chains, particularly for companies dependent on China for manufacturing or sales.

2,227 Points: Sensex Sees Its Worst Intraday Fall in 10 Months

India's BSE Sensex plummeted 2,226.79 points i.e. 2.95% to close at 73,137.90, its sharpest single-day drop since June 2024. At its intraday low, the index was down over 5%. IT and metal stocks bore the brunt, while foreign institutional investors offloaded ₹3,483 crore worth of equities. Over ₹14 lakh crore in market cap evaporated. In total, 775 stocks hit 52-week lows, including major names like Reliance, Infosys, and Tata Motors.

Hang Seng Witnessed the Worst Plunge Since 1997

Hong Kong’s Hang Seng Index nosedived 13.2% on April 7, marking its steepest one-day decline since the Asian Financial Crisis. China’s retaliatory tariffs and intensifying geopolitical tensions have prompted foreign investors to exit rapidly, fearing a prolonged U.S.-China economic decoupling.

S&P 500 Confirms Bear Market

On Monday, the S&P 500 also dropped 4.52%, cementing its fall into bear market territory with a decline of over 20% from February highs. In just two trading sessions, the index has lost more than $5 trillion in value. Fears of a tariff-fueled recession, stubborn inflation, and limited Federal Reserve flexibility are feeding the downward spiral.

Crude Oil Breaks Below Key Support

For the first time in four years, U.S. crude oil prices dipped below $60 per barrel. Slowing trade and expectations of shrinking global demand are weighing heavily on the energy sector. With oil seen as a barometer of economic health, markets are increasingly pricing in a worldwide recession.

Bitcoin Price Drops Hard to $78,000

Bitcoin price slipped below $78,000, a steep fall from its January peak of over $100,000. Despite its reputation as a hedge during uncertainty, crypto was not spared. Margin calls and liquidations drove losses deeper, with crypto-linked equities like Coinbase and Marathon Digital taking significant hits.

45%: Probability of a U.S. Recession, per Goldman Sachs

Goldman Sachs has sharply increased the probability of a U.S. recession to 45%, up from 35% earlier in the week, marking its second upward revision in just days. In the beginning of this week, it gave a recession risk estimate of 20%, but the rapid escalation of President Trump’s tariff policies has rattled confidence across the board.

Trump’s announcement of steeper-than-expected import duties sent shockwaves through global markets, triggering a mass selloff and raising alarms among economists. At least seven major investment banks have since updated their recession forecasts. J.P. Morgan is also projecting a 60% chance of both a U.S. and global recession.

7.8%: Nikkei's Brutal Sell-Off

Japan's Nikkei 225 fell almost 8%, one of the worst performances in years. Export-oriented Japanese companies such as Toyota and Sony, which depend on both the U.S. and Chinese markets, lost billions of dollars of value. Japanese Prime Minister Ishiba expressed grave concerns regarding how the tariffs could thwart U.S.-Japan economic relations.

5 Rate Cuts: What the Fed Is Being Pressured Into

Markets are now pricing in five quarter-point rate cuts from the Federal Reserve in 2025. There’s even a 60% chance of an emergency cut next week. However, with inflation still elevated, the Fed faces a tightrope walk: stimulate the economy without stoking further price hikes.

The Bottom Line

As global markets convulsed and financial leaders sounded alarms, President Trump remained defiant. Speaking aboard Air Force One, he brushed aside Wall Street’s concerns, telling reporters, “Forget markets for a second.”

While panic spread across trading floors from New York to Tokyo and the rest of the world scrambled to assess the damage, he posted confidently:

“Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing!”