Thursday Was the Worst Day for Stocks in Five Years

The stock market fell by its largest margin in five years and may start to correct on Friday morning as the jobs report comes in.

Timothy St. John•Friday, April 4, 2025•2 min read

Bearish stock market is moving the US closer to recession.

Friday could be a disastrous day for the stock market as Thursday saw the tariffs take a brutal swipe at stock prices, with the Nasdaq Composite down by nearly 6%.

The Dow fell about 4% on Thursday as a result of Donald Trump’s tariff decision hitting the market hard. The S&P 500 lost nearly 5% as well. Trump’s tariff policy, announced Wednesday afternoon, was more severe than expected.

That initial news caused the stock market to dip, but it was the retaliatory tariffs from China and other countries that really sank the market this week. China announced a 34% tariff for U.S. imports, which is sure to slow down sales of products from the United States to China for the near future.

Thursday marked the steepest decline for the stock markets since 2020 as investors fear what new tariffs will do to the economy. There is a March jobs report coming later today that could help move the needle slightly, but nothing for now will compare to the impact of this tariff policy and the certain blowback to come from countries most affected by the high tariffs, including Taiwan, Vietnam, and the European Union.

Individual Stocks Are Heavily Impacted

The brunt of the stock market decline fell on some key stocks. Apple (AAPL) lost 9.25% on Thursday, and it has fallen another 4% in Friday’s premarket trading. Tech stocks have suffered the most from the tariffs, as consumers affected by higher prices are likely to cut back on tech products and focus on essentials.

Nvidia (NVDA) lost 7.81% of its stock value, further cementing its place among the most loss heavy stocks for 2025. What was a stellar performer throughout 2023 and 2024 has lost its way due to heavy scrutiny in China and incredible competition from DeepSeek. The tariffs simply add to that and bring Nvidia down further.

MicroStrategy Inc. (MSTR) is also one of the big losers this week, with a decline of 9.68% on Thursday. In premarket trading for Friday, MSTR started to bounce back and actually gained 1%. We may see a number of these price corrections occur where some stocks were adversely and heavily affected by tariff news. As investors and analysts process unfolding events, they may realize that the impact is not as severe on some stocks as previously thought. We expect to see a number of slightly improving stocks by the end of trading today.

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ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.