Stock market takes hit amid concerns over new Trump tariffs

The Dow Jones Industrial Average dropped more than 700 points on Friday, amounting to a 1.6% loss. The S&P 500 dropped nearly 2% and the Nasdaq composite lost 2.7%.

By Misty Severi

Published: March 28, 2025 5:29pm

The stock market on Friday took a hit as the economy prepares for President Donald Trump's upcoming tariffs, which will go into effect next week.

The Dow Jones Industrial Average dropped more than 700 points on Friday, amounting to a 1.6% loss. The S&P 500 dropped nearly 2% and the Nasdaq composite lost 2.7%, according to CNBC.

Shares in several technology companies also closed lower than they opened, including Alphabet, which owns Google, Facebook's parent company Meta and Amazon. Meta and Amazon saw a 4.3% loss each.

The drops come as the world prepares for more tariffs against China, Canada, and Mexico. Trump also announced this week new 25% tariffs on all auto imports coming into the United States. The tariffs are expected to take effect on April 2.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.