S&P Down 10 Percent In 2 Days, Semiconductors Worst Week Since 2001

By Mish Shedlock of MishTalk

Friday, April 4, 2025 5:48 PM EDT

How Does it Feel on Liberation Day Number Two?

(Click on image to enlarge)

Images combined from Investing.Com

Liberation Day was April 2. The lead image shows the results for Friday, April 4.

S&P 500 Down 10 Percent in Two Days

I hope you are feeling liberated now that the S&P 500 Loses 10% in 2 Days.

The Dow Jones Industrial Average dropped 2,231.07 points, or 5.5%, to 38,314.86 on Friday, its biggest decline since June 2020 during the pandemic. This follows a 1,679 point decline on Thursday and brings the drawdown from its record to more than 14%.
The S&P 500 nosedived 5.97% to 5,074.08, also the biggest decline since March 2020. The benchmark shed 4.84% on Thursday and is now off more than 17% off its recent high.
The Nasdaq Composite, home to many tech companies that sell to China and manufacture there as well, dropped 5.8%, to 15,587.79. This follows a nearly 6% drop on Thursday and takes measure down by 22% from its December record, a bear market in Wall Street terminology.
The selling was broad with only 14 members of the S&P 500 higher on the day. Major market indexes closed at their lows of the session.
The iShares Semiconductor ETF (SOXX) headed for its worst week in more than two decades as President Donald Trump’s tariff policies wreaked havoc on technology stocks.
The fund has dropped more than 16% this week, hurt in part by Friday’s slide of nearly 7%. If that holds, this would mark the biggest weekly loss for the ETF since September of 2001, when it plunged more than 25%.
In late afternoon trading, the S&P 500 energy sector was down 8.6%, according to FactSet. A decline in oil prices is likely contributing to the the selling for that group. Meanwhile, economically sensitive financials dropped 7%.

A few days ago someone asked me what Liberation Day meant. I said be prepared to be liberated from your money.

Winning Big Trump Quotes from Today

TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!
CHINA PLAYED IT WRONG, THEY PANICKED – THE ONE THING THEY CANNOT AFFORD TO DO! [see link below for discussion]
GREAT JOB NUMBERS, FAR BETTER THAN EXPECTED. IT’S ALREADY WORKING. HANG TOUGH, WE CAN’T LOSE!!!