Closing Bell Overtime: Worst Day For Stocks Since Pandemic Lows After Shock Trump Tariffs 4/3/25

Closing Bell

CNBC

Business, News

4.8 • 118 Ratings

🗓️ 3 April 2025

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

A global rout in stocks after President Trump’s tariffs announcement. We have you covered from every angle, including tech’s sell off with Wedbush’s Dan Ives and positioning from here with Morgan Stanley Wealth Management CIO Lisa Shalett . Plus, White House advisor Peter Navarro on the math behind the rates for different countries.

Transcript

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0:00.0	Termoyle on Wall Street today as investors react to a new global trade order following President
0:08.2	Trump's tariff announcement that happened here 24 hours ago.
0:11.6	Stocks going out at the lows.
0:13.4	The Dow falling more than 1,600 points, almost 1,700 points.
0:16.7	The S&P and NASAC just finished their worst sessions since 2020.
0:21.0	All the major averages now in correction territory or worse in the case of the Russell 2000
0:25.6	in bear market territory.
0:27.2	That is the scorecard on Wall Street, but the action is just getting started.
0:30.6	Welcome to closing bell overtime.
0:32.1	I'm Morgan Brennan with John Ford.
0:33.5	And we will be all over this massive sell-off and what comes next for your money throughout the hour from all angles, including new recession odds, the impact on tech, geopolitics, and more.
0:45.9	And in just a moment, White House Senior Counselor for Trade and Manufacturing, Peter Navarro, will join us to talk about the tariff announcement.
0:55.2	Well, President Trump called yesterday's tariff announcement Liberation Day. Today's market reaction looks more like liquidation
1:00.2	day. So we begin with the sell-off and what comes next. Joining us now is Barbara Duran from BD8
1:05.3	Capital Partners, Sam Stovall from CFRA, along with CNBC's Courtney Reagan looking at the pain in retail and our Leslie Picker, tracking the plunge for the big banks.
1:16.8	Welcome, Barb, you say the scope of the tariff announcement was worse than the market's worst-case scenarios, which was also my reaction yesterday.
1:24.8	You also say this transforms terrorists from an uncertainty before yesterday to now an ongoing,
1:31.7	hard to calculate risk.
1:34.0	So what, if anything, can you buy?
1:37.8	Well, usually these kinds of opportunities are a time to really sort among the wreckage
1:43.2	and pick out your favorites. And I've been doing that
1:45.2	up until this time, but I'm not doing it today because I think the unknowns are too great,
	...

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