Golden Finance reported that after Trump implemented tariff actions, the S&P 500 index was at a key technical point, and if it was lost, it could face a longer-term decline. During the trading session on April 3, the S&P 500 index reached a correction level near 5,500 points. Technical analysts who observe moving averages and other indicators to determine market momentum pointed out that there are few points below this key psychological position that can attract dips. “The air is filled with a hint of panic,” said Jay Woods, chief global strategist at Freedom Capital Markets. "Trump and Treasury Secretary Becent tried to sell the trade war to Americans, but the stock market was not buying it. People were tired of the rhetoric, they couldn't see what tariffs could do other than putting the United States in a recession, and are now rushing to pull funds out of the market."