On April 4, 2025, the US stock market opened with mixed performance. The Dow Jones Industrial Average fell by 0.5%, the S&P 500 decreased by 0.7%, and the Nasdaq Composite dropped by 1.2%.

In sector performance, the US panic index ETFs saw a significant rise, with Cboe Volatility Index up 22.88%, ProShares Ultra VIX Short-Term Futures ETF up 16.32%, and 2X Long VIX Futures ETF up 21.77%. Conversely, the semiconductor sector experienced notable declines, with Direxion Daily Semiconductors Bear 3x Shares down 9.86%.

Apple shares fell by 3.38% following the announcement of new tariffs by President Trump. The tariffs are expected to cost Apple up to $400 billion and could lead to higher product prices, benefiting competitors like Samsung. This has caused significant investor concern and market volatility.

JPMorgan Chase saw a decline of 5.04% as the bank warned of a potential global recession due to the tariffs. The risk of a recession is estimated at 60% if the tariffs persist, with potential Chinese retaliation and economic decoupling adding to the concerns.

Costco shares decreased by 1.15% despite Telsey Advisory Group maintaining its price target at $1100.00 per share, indicating a positive outlook for the company's stock.

AppLovin Corporation experienced a significant drop of 6.86% after expressing interest in acquiring TikTok's assets outside of China. The bid is preliminary, and there is no guarantee of a transaction, leading to market uncertainty.

GameStop shares rose by 1.42% after CEO Ryan Cohen purchased an additional 500,000 shares, signaling strong confidence in the company's future.

Nordstrom shares fell by 1.88% following Citigroup's downgrade of the stock from Neutral to Sell and a price target cut from $25.00 to $22.00.