COLORADO SPRINGS — The Dow dropped nearly 500 points, or about 1%. The Nasdaq fell 0.18%, and the S&P 500 dropped 0.76%.
It was the worst day of the year for both the Dow and S&P 500. For the Nasdaq, it's the biggest single-day decline since September 2022.
This comes as President Trump's administration continues with its on-and-off tariffs. President Trump announced Tuesday that he would impose another round of tariffs on Canada before reversing his decision.
The President said he would double Canadian steel and aluminum tariffs from 25% to 50%. The rollercoaster of tariff policies is sparking concerns among stockholders.
"I've been investing for the last 10 years," said Brendan Coibion, a Stockholder.
Coibion says he uses stocks for personal projects right now.
"I feel a lot of uncertainty," said Coibion. "Because a part of me isn't sure... if I should buy it more."
A local financial adviser, William Van Keulen, says there's tremendous uncertainty because of a trade war.
"What you don't want to do is to react. You can respond to this by doing your homework on your personal situation," said Van Keulen.
Van Keulen says based on two decades of experience in the industry, the current situation in the stock market is not surprising.
"We are down 6%. The stock market corrects to 10% every year," said Van Keulen.
He says he's watching the market closely for his clients.
"We are going to see how long they are going to stick with the trade war. To me, it's going to be quite some time," said Van Keulen.
___
Bill would prohibit officers from asking, 'Do you know why I pulled you over?'
A new bill in the Colorado Legislature would prevent peace officers from asking you "Do you know why I pulled you over?" during a traffic stop.
____
Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.
