New Delhi, April 4 -- US stock market slumped on Thursday, with the Wall Street benchmark indices ending with the largest single-day percentage losses since 2020, after US President Donald Trump's sweeping trade tariffs stoked fears of an all-out trade war and fears of a global economic recession.

The Dow Jones Industrial Average crashed 1,679.39 points, or 3.98%, to 40,545.93, while the S&P 500 sank 274.45 points, or 4.84%, to 5,396.52. The Nasdaq Composite closed 1,050.44 points, or 5.97%, lower at 16,550.61.

The Nasdaq Composite Index saw its biggest daily fall since March 2020, while the S&P 500 and Dow Jones Industrial Average posted their biggest daily percentage declines since June 2020. S&P 500 companies erased a combined $2.4 t...