Global stock markets plummeted Thursday as U.S. President Trump's comprehensive tariff plan kicked off a trade war that had a wide impact on the global economy, according to Kingshin reported. Public fears about rising prices and slowing economic growth may or may even be possible, have caused U.S. stock indexes to plummet, recording their worst single-day performance since at least September 2022. Apparel and retail companies led the decline, with Williams-Sonoma, Ralph Lauren and Deckers Outdoor all down more than 17%. Technology and tech retail stocks such as HP, Best Buy and Garmin all fell by at least 15%. Magnificent 7 stocks, which led the market higher in the past two years, also generally lowered, with both Apple and Amazon falling more than 8%. More than 400 stocks in the S&P 500 index fell. The S&P 500 is down 4.1%, which is expected to record its biggest single-day decline since September 2022. The Nasdaq index's decline once widened to 5.8%, which is expected to hit its biggest single-day decline since March 2020. The Dow fell about 3.4%, which is expected to record its biggest single-day decline since September 2022.