Over 10,000 listed firms globally lost $10.3 trillion in market capitalisation between March 17th and April 8th 2025.
Research by BestBrokers, says that United States was hit hardest in the period with $5.36 trillion wiped from company valuations.
“While the US S&P 500 alone has lost nearly $6 trillion since the announcement of swipping tariffs under President Trump, the impact has been global. Billions in value have evaporated across markets in every major region,” says BestBrokers in their research report.
The report says China wipped out $923.6 billion in the period, while Japan lost $434 billion, Germany $289 billion and Taiwan $267.7 billion.
“Despite the scale of these losses, many leading indices are still above where they were a year ago, supported by resilient earning and long term growth,” the report notes.
On Wednesday, President Trump issued a 90-day pause on his controversial tarrifs. This has seen the S&P 500 record its biggest gain ‘since the second world war’ as markets opened on Thursday.