The Associated Press reported on Thursday morning that financial markets around the world are reeling Thursday following President Donald Trump’s latest and most severe volley of tariffs, and the U.S. stock market may be taking the worst of it.
The S&P 500 was down 4% in morning trading, worse than the drops for other major stock markets. The Dow Jones Industrial Average was down 1,520 points, or 3.6%, as of 10:10 a.m. Eastern time, and the Nasdaq composite was 4.0% lower.
Little was spared as fear flared globally about the potentially toxic mix of higher inflation and weakening economic growth that tariffs can create.
Everything from crude oil to Big Tech stocks to the value of the U.S. dollar against other currencies fell. Even gold, which has hit records recently as investors sought something safer to own, pulled lower. Some of the worst hits walloped smaller U.S. companies, and the Russell 2000 index of smaller stocks dropped more than 5% into what’s called a “bear market” after losing more than 20% from its record.
Uber Freight responded on multiple fronts beginning withJose Guerrero, Director of U.S. Customs Operations.
“Over the weekend and leading up to the tariff announcement, we saw an extraordinary volume of trucks moving northbound from Mexico into the U.S., particularly along the IH35 corridor, Guerro said. “Some importers held back shipments until the news was confirmed, while others rushed to move goods ahead of potential disruptions. This pattern suggests shippers are closely monitoring trade policy and adjusting their strategies in real time. We will continue tracking freight flows and shipper behavior in the coming days to understand the full impact on cross-border supply chains.”
The company’s Senior Economist also weighed in in response to news like the AP’s report that investors worldwide knew Trump was going to announce a sweeping set of tariffs late Wednesday, and fears surrounding it had already pulled the S&P 500 10% below its all-time high last month
“Tariffs add cost pressures to an already fragile manufacturing sector. Supply chain executives are signaling concerns that higher trade barriers will lead to reduced production, job cuts, and rising inflation,” said Senior Economist Mazen Danaf said. “The latest Purchasing Managers Index (PMI) data confirms a slowdown, with manufacturing output and new orders declining. Meanwhile, the cost of raw materials is surging—March saw price increases across all major industries surveyed. These signals suggest that businesses are bracing for economic headwinds, reinforcing how critical it is to maintain supply chain resilience in an uncertain environment.”
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
