Wall Street witnessed a significant downturn as it faced its biggest one-day loss since the onset of the Covid pandemic. This drop was triggered by the announcement of new tariffs by President Trump, leading to a staggering $2.4 trillion decline in the value of the S&P 500. The tech and retail sectors were hit particularly hard by this development. Analysts are now forecasting a rise in household expenses as a result of these tariffs, along with a growing trade dispute that could further exacerbate the situation.