On Wednesday, April 9, 2025, the U.S. stock market experienced significant volatility due to escalating trade war tensions. The Dow Jones Industrial Average initially fell but later recovered, reflecting the market's sensitivity to trade-related news. The S&P 500 also saw fluctuations, while the Nasdaq Composite showed relative strength, driven by tech stocks.
The market's movements followed China's retaliation against U.S. tariffs, with Beijing raising tariffs on U.S. products to 84%. This action heightened concerns about a potential global recession, as economists warned of the negative impacts of prolonged trade disputes.
Delta Air Lines felt the immediate impact, prompting the company to pull its 2025 guidance due to economic uncertainty affecting bookings. CEO Ed Bastian cited stalled growth as a key reason for the revised outlook.
In contrast, Walmart maintained its full-year sales and operating income outlook, projecting first-quarter sales growth of 3% to 4%. However, the retailer acknowledged potential challenges due to changing category mix and the need for price adjustments in response to tariffs.