Small-cap stocks closed Thursday's session in a bear market. The Russell 2000 index fell 6.6% on Thursday, marking its biggest daily percentage decline since March 2020. The index comprises small-cap stocks that are sensitive to changes in interest rates.

The index ended down 5.8% on Friday, after China announced additional tariffs of 34% on U.S. goods in retaliation for steep tariffs Trump announced against China Wednesday. The Nasdaq Composite index ended down 962.

Markets are in freefall once again on Friday morning. Here's a look at futures as of April 4th: Dow Futures: -1,260 (-3.10%) S&P Futures: -169.75 (-3.12%) Nasdaq Futures:-619 (-3.33%) Yesterday, the Russell 2000 became the first major index to enter bear market territory.

Alarm about the fallout from President Donald Trump's sweeping tariffs gripped global financial markets, with Wall Street's fear level at a five-year high while financial executives expressed shock and worry about economic growth.

Nearly all significant indices in America, Asia, and Europe are showing declines. Wall Street has experienced its worst quarter in 23 years and faces considerable uncertainty. Investors fear the worst: a possible recession.

Mumbai: Benchmark equity indices Sensex and Nifty slumped in initial trade on Friday due to heavy selling in metal, oil & gas shares as President Donald Trump’s sweeping tariff salvo reignited the fears of global trade war.