The U.S. government’s announcement of reciprocal tariffs caused a staggering $6.6 trillion (approximately 9652 trillion won) in market capitalization to vanish from New York’s Wall Street in just two days. Meanwhile, President Donald Trump, who initiated the tariff measures, left for Florida, where his private residence is located, to enjoy a weekend of golf.
According to the U.S. daily Wall Street Journal (WSJ) on the 4th (local time), following the Trump administration’s announcement of reciprocal tariffs, the New York stock market plunged significantly over the two days of the 3rd and 4th, resulting in a market cap reduction of about $6.6 trillion. This is the largest drop since the early days of the COVID-19 pandemic.
President Trump, who caused such a shock to the U.S. stock market, appeared unfazed, enjoying golf and other activities. According to local U.S. media, President Trump left for his Florida residence a day earlier than usual after the tariff announcement and played golf. Since taking office, Trump has visited Florida almost every weekend. On the morning of the same day, through his social media (SNS), Trump wrote, "To the many investors who come to America and invest large sums, my policies will never change," adding, "Now is a great time to become rich."
Soon after, major corporations also claimed they were not worried about the U.S. tariff policies. In the afternoon, Trump stated on SNS, "They are focusing on big and beautiful deals that will invigorate our economy," and asserted, "Very important things are happening right now."
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