16:51 - 8.04.2025

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April 8, Fineko/abc.az. A 20% drop in the market in three days is a serious signal, and the consequences of potential tariffs will be long-term, ABC.AZ reports, quoting Larry Fink, CEO of BlackRock.

He said at a meeting of company executives and investors in New York that the U.S. economy is experiencing recession. Fink noted that the effects of the trade wars launched by the Donald Trump administration are spreading throughout the country.

"Currently, 62% of Americans invest in the stock market, and such a decline has a serious impact on the consumer ability of the population," he said.

Record numbers and unexpected fluctuations on April 7, S&P 500 index showed short-term growth, and its market capitalization increased by $2.5 trillion. However, shortly after that, the index fell to 5,062.25 points (-0.2%), as the White House denied reports that Trump would suspend tariffs for 90 days, calling them false information.

On April 2, Trump imposed mutual customs duties of 10-50% against most countries. As a result, S&P 500 fell by more than 10%.