Stocks continued to decline Thursday, extending Wall Street‘s anxious reaction to tariffs imposed on Canada and Mexico this week by President Donald Trump.
The Dow Jones Industrial Average fell about 1%, or about 430 points, while the tech-heavy Nasdaq dropped 2.6% to finish in correction territory, where it had been earlier in the week. A correction is defined as an index dropped more than 10% below its closing high.
Netflix declined 8.5% to $906.36, while Amazon and Meta Platforms both were off 4% to $200.70, and Roku dipped 6%. Major media companies also saw a downturn, with Disney down 3.55% to $105.43 and Warner Bros. Discovery surrendering 6% to $10.70.
Shares of local TV station owners and major broadband providers Comcast and Charter were among the only gainers in media. Paramount Global stock also ticked up 2%.
The implementation of tariffs on Tuesday unto itself was discouraging news for many economists and investors, but the markets have been more unsettled by the whipsawing of policy day by day through this week.
