The US stock market experienced further decline as concerns over tariffs heightened, leading the S&P 500 to enter a bear market territory. President Trump defended the implementation of new trade barriers, while the European Union showed a willingness to engage in discussions. The likelihood of a recession increased, causing investors to shift towards defensive sectors.

Source: https://www.euronews.com/business/2025/04/07/us-markets-sink-further-as-europe-offers-openness-to-zero-tariffs