AAPL, JPM, GM: U.S. Stock Market Has Lost $11 Trillion Since Trump’s Inauguration

A total of $11.1 trillion has been wiped off the U.S. stock market since U.S. President Donald Trump’s inauguration on Jan. 20 of this year.

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More than half that amount, $6.6 trillion, was lost on April 3 and 4 after Trump stunned financial markets with sweeping new tariffs that include a baseline 10% duty on nearly all imports into America. The trading days of April 3 and 4 represent the largest two-day wipeout of shareholder value on record, according to Dow Jones market data.

The stock market selloff on Wall Street has only accelerated as the European Union, China, and other nations announce retaliatory tariffs on U.S. goods, raising the risk of a global trade war and worldwide recession. While markets rallied late last year on news of Trump’s re-election, that euphoria has now given way to fear among investors who are fleeing stocks.

Bad to Worse

Recession risks are rising sharply amid signs of an escalating trade war, notably with China. The U.S. and China are the world’s two largest economies and the specter of a trade war between the two has shaken equity markets. Blue-chip stocks such as Apple (AAPL), JPMorgan Chase (JPM), and General Motors (GM) have each fallen more than 10% this year.

By the time markets closed on April 4, the benchmark S&P 500 had surpassed its losses from the first 75 days of George W. Bush’s first term in office, which was when the dotcom tech bubble burst. The small-cap Russell 2000 index has had the worst start to a new presidential administration on record and is officially in a bear market defined as a drop of 20% or more from recent highs.

Down 22% from a record closing high of 20,056.25 reached on Feb. 19, the Nasdaq Composite index is also officially in a bear market.

Is the Vanguard S&P 500 ETF a Buy?

The Vanguard S&P 500 ETF (VOO), which tracks the movements of the benchmark U.S. stock index, has a consensus Moderate Buy rating among 506 Wall Street analysts. That rating is based on 410 Buy, 88 Hold, and eight Sell recommendations made in the last three months. The average VOO price target of $668.21 implies 41.67% upside from current levels.

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