US stock market faces massive losses, economic experts warn of serious risks from tariff policies

The US stock market has entered a bear market, with the Nasdaq Composite Index dropping over 20 percent from its recent high. This marks a significant milestone, signaling a prolonged downturn for the tech-heavy sector. 

In just two days, the broader market saw a staggering $47 trillion wiped off its value, with the "Big Seven" tech giants, including Apple, Microsoft, and Amazon, collectively losing $13 trillion in market capitalization.

Adding to the gloomy outlook, JPMorgan has revised its forecast for the US economy, according to wallstreet.cn. The investment bank now predicts that the US will likely enter a recession by 2025. The tightening of monetary policy, including continued interest rate hikes, is expected to slow economic growth significantly. 

On the global stage, US tariff policies have continued to attract significant criticism from economists, who argued that these policies are economically illogical and could have lasting negative impacts on the US economy. 

Peter Boehringer, senior fellow at the Peterson Institute for International Economics, said that the Trump administration's tariff calculations are without basis, describing them as completely fabricated.

Dean Baker, senior economist at the Center for Economic and Policy Research, noted that the current tariffs represent the largest trade escalation in recent years and will likely stifle US economic growth, raise inflation, and provoke severe retaliatory measures from trade partners. 

Furthermore, Clay Ramsey, researcher at the University of Maryland's Center for International and Security Studies, warned that while President Trump's tariff strategy may appear to offer short-term negotiation advantages, it will likely impose significant costs on US consumers and businesses in the long run, especially for middle- and lower-income groups.

As global economic risks mount, experts are urging for more rational and sustainable economic policies to address inflation, trade relations, and growth in order to avoid a prolonged period of economic hardship.

(With input from Xinhua)