Tech, small cap, bank and other stocks led a furious sell-off in the stock market today in the wake of sweeping tariffs by President Trump.

The Dow Jones Industrial Average plunged over 1,400 points, or 3.5%, shortly after stock market trading opened Thursday in the wake of President Donald Trump announcing sweeping global tariffs Wednesday.

If Trump follows through on his tariffs, stock prices may need to fall much more than 10% from their all-time high in order to reflect the global recession that could follow, along with the hit to profits that U.S. companies could take. The S&P 500 is now down slightly more than 11% from its record set in February.

The stock market and some Arizona companies took it on the chin after Trump announced tariffs that could slow the economy and raise consumer prices.

Dow Jones Market Data has produced an early estimate of the dollar amount that has been wiped away from U.S. equity valuations during Thursday's stock-market rout: $2.5 trillion. That's on track for the largest single-day stock-market wipeout since March 16,

US stocks plunged after President Trump announced a baseline 10% tariff on all US trading partners, sending shockwaves through markets and the global trade order.

The stock market marked its worst day since 2020 after the White House unveiled its plans for steep tariffs that will upend the global economy. The S&P 500 sank 4.8%. The Nasdaq Composite slid 6%. The Dow Jones Industrial Average fell 1,

In the first trading session since President Trump announced his massive tariffs program, the Dow Jones Industrial Average is down 3%, with many retailers seeing double-digit percentage drops. But Walmart saw its shares dip less than 1% by early Thursday afternoon and Costco's even rise a touch.

As the world and stock market react to President Donald Trump's tariffs, Brian Jacobson, the chief economist at Annex Wealth Management, joined WISN 12 News at 4 to break down the economic impact.