According to foreign media reports, major U.S. stock indexes recorded their largest weekly decline since March 2020, after Trump announced a more-than-expected tariff plan, raising concerns about global economic growth. "The reason for the big drop in the stock market today is that there is a real lack of buyers," said Carol Shleiff, chief market strategist at BMO Private Wealth. People have waited to see how the initial (trade) negotiations/retaliation go, and don't know how to evaluate how much of a drop is "enough". The Dow is currently down 14.9% from a record close, and the S & P 500 is down 17.4% from a record close. The Nasdaq is down 22.7% from the record close set on December 16 last year, and it has been confirmed that it has entered a bear market. US stocks lost more than $3 trillion of their value across the city today. Federal Reserve Chairperson Jerome Powell also did not offer a short-term answer on Friday on how tariffs would affect monetary policy, saying: "We face a highly uncertain outlook, with rising risks for unemployment and inflation." Other stock markets in the Americas were also dragged down, with Canada's Toronto stock index confirming a correction and closing more than 10% off its record high set on January 30. Argentina's main stock index fell 7.4% at the preliminary close. Mexico's and Brazil's main indexes fell more than 5% and 3%, respectively.