US stock markets experienced significant declines due to fears surrounding President Trump's extensive tariffs, raising concerns about potential negative impacts on the global economy. The S&P 500 dropped 3.4%, the Nasdaq Composite fell by 4%, and the Dow Jones saw a decline of 3.2%. Amid this turmoil, experts suggested that this could present a buying opportunity as the market nears its bottom. With over £80 billion lost from the FTSE 100, many investors sought safety in cash, fearing ongoing disruptions.
"We are getting close to a bottom. The fact that stocks have dropped so significantly in these deep intraday moves is a clear sign of indiscriminate and fear-based selling. When this happens, we tend to soon see significant rallies."
"The big flight to cash continues as investors seek a shelter for their money amid the tariff storm. Trump has dashed hopes for an easing of policy by calling tariffs 'medicine' and investors are absorbing the implications of this bitter pill for the global economy."
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