Wall Street Indexes Attempt to Rebound After Three Days of Mayhem

Barry Adams
08 Apr, 2025
New York City

Wall Street indexes rebounded after a three-day sell-off that wiped out more than $6 trillion in market valuation after Trump tariffs shook stocks. 

The S&P 500 index jumped 2.5%, and the Nasdaq Composite advanced 2.9% in early trading on Tuesday, as investors awaited the start of earnings season this Friday. 

Wells Fargo, Citigroup, JPMorgan Chase, Morgan Stanley, Goldman Sachs, Delta Air Lines, and Fastenal are scheduled to release earnings on late Thursday or early Friday.

Over the last three trading sessions, the S&P 500 index lost more than 10% after the Trump administration rolled out an import tax that averaged 22%. 

The sharp escalation of tariffs from the current 2.5% mounted fears of economic slowdown and rapid rebound in inflation, which could lead to widespread job losses and dampen consumer spending and corporate earnings.

The tech-heavy Nasdaq Composite extended over the last three trading sessions and sank deeper into bear market territory after Apple, Nvidia, AMD, and Alphabet plunged as much as 20%. 

The US-sparked tariff war showed no sign of easing after China imposed its retaliatory tariff of 34% on U.S. goods, and the European Union proposed a 25% tariff on aluminum, steel, and motorcycles. 

 

U.S. Movers 

Broadcom jumped $164.0 after the company's board authorized a new $10 billion stock repurchase program ending no later than December 31. 

Healthcare insurance companies jumped after The Wall Street Journal reported that the Trump administration is looking to approve a payment rate increase of 5.06%, higher than the 2.26% proposed by the Biden administration. 

Humana soared 14.3% to 291.0, UnitedHealth Group advanced 6.7% to 561.0, and CVS Health Corp. gained 8.4% to 69.18.

Levi Strauss & Company jumped 15.2% to 15.22, and the apparel company reported a muted increase in sales but a sharp jump in earnings in the first quarter ending in March.