The first 100 days of President Trump's administration have been marked by intense market fluctuations, including 70 days of volatile trading and 33 days with losses, resulting in over $6.5 trillion wiped from the market capitalization of publicly traded companies.
The S&P 500 index has declined approximately 9 percent, positioning this as the most severe market start to a presidential term since Gerald R. Ford assumed office in August 1974 amid the Watergate scandal. This downturn surpasses the early market declines experienced during the bursting of the tech bubble and the onset of George W. Bush's presidency.
Unlike previous downturns, President Trump took office with the economy in a strong position and stock markets consistently hitting record highs.
However, market conditions shifted rapidly following the announcement of an extensive set of tariffs on April 2. Though not the first import taxes introduced during the administration, these measures were the most comprehensive, sparking heightened volatility as investors assessed the economic impact.
The S&P 500 plunged over 10 percent within two days—a drop comparable to some of the sharpest market declines witnessed during the March 2020 pandemic sell-off and the 2008 financial crisis.
While markets have since shown signs of stabilization, the repercussions from the abrupt tariff implementation continue to reverberate throughout the global financial system.
