S&P 500 sees worst day since 2020 after Trump’s sweeping tariff announcement [Video]

U.S. markets took a significant plunge on Thursday, one day after President Donald Trump announced sweeping tariffs, leading to fears of a global recession and prompting international responses.The S&P 500 had its worst day since the COVID-19 pandemic in 2020, falling 4.8%.”The tariffs the administration is imposing are much more severe than had been expected,” said Mark Hamrick, senior economic analyst at Bankrate.com.The latest import taxes range from 10% to 49% on goods from countries all across the globe. As the impacts take shape, recession fears are on the rise.”In the last number of hours, we’ve had the risk for recession rise, the prospect for higher prices increase at a higher rate, and the worry about the impacts on hiring and consumer spending only become magnified,” Hamrick said.President Trump is standing firm. He thinks things are going well, comparing the country to a patient recovering from an operation.”The market’s going …