as of today Nasdaq is down 15% since mid Feb when it hit 20K, it's down 3K overall. Today several analysts said the Trump tariffs are NOT fully baked into the prices, nobody has any idea what he's going to do on April 2nd that he's calling Liberation Day. Peter Navarro among other top advisers just said "Trust in Trump", they have no idea what he's actually going to do.
One analyst said if he really does the global retaliatory tariffs the markets will fall further and pointed out the last time we dropped this far this fast was in Feb and March of 2020 because of Covid. The obvious difference, there is no actual event causing this, nothing we can't control, this entire crash is caused by one 79 year old man.
Another analyst said the fact is if Trump cones out April 2nd and says I've won, they capitulated tariffs are off, the markets still might fall because at this point the total uncertainty in him is the problem