At 3:00 PM in Lisbon, the Dow Jones fell 2.58%, losing over a thousand points since opening and dropping below 40,000 points, settling at 39,499.53. Meanwhile, the tech-heavy Nasdaq was down 2.85% to 16,078.44 points.
The broader S&P 500 recorded losses between these two indices, retreating 2.64% to 5,253.87 points.
At the same time, European stock markets amplified their losses, with Milan down 5.91%, Madrid 5.22%, Paris and London 3.96%, and Frankfurt 3.94%.
Portugal’s main index, the PSI, fell 4.06% to 6,684 points, with all 15 of its listed companies in the ‘red.’
The June crude oil barrel price decreased by more than five dollars from its opening, reaching $64.78, while the euro traded at $1.0998.
On Thursday, European stock markets closed with a decrease of around 3%. However, the decline was notably less severe compared to Wall Street, where major indicators experienced their worst day since 2020, with sharp losses ranging from 4% to 6%.
The Dow Jones closed with a decline of 3.98% at 40,545.93 points, compared to its all-time high of 45,014.04 points on December 4, 2024.
The Nasdaq, which includes high-tech-listed companies, ended with a 5.97% drop at 16,550.61 points, against its record high of 20,173.89 points on December 16, 2024.
The market continues to be affected by the announcement of reciprocal tariffs by U.S. President Donald Trump, who nevertheless expressed his readiness to negotiate if the offers are “phenomenal.”
Additionally, the situation has further intensified panic that swept through Wall Street, leading to the largest single-day drop in five years.
