The Globe and Mail reports in its Friday edition that stocks across the world plunged Thursday, with the major U.S. and Canadian indexes suffering their largest one-day percentage losses since the early days of the pandemic, after U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession. The Globe's Darcy Keith writes that a combined $2.4-trillion (U.S.) in stock market value was wiped off of S&P 500 companies alone, as investors began to price in a potentially toxic mix of weakening economic growth and the higher inflation that could be triggered by tariffs. The S&P 500 lost 4.84 per cent on Thursday, while the Nasdaq composite dropped 5.97 per cent. The Dow fell 3.98 per cent. The S&P/TSX Composite Index ended down 971.41 points, or 3.8 per cent, at 24,335.77, its biggest decline since June, 2020. The technology sector in Toronto tumbled 9.5 per cent, with Shopify down nearly 20 per cent. The energy sector lost 7.1 per cent, as the price of oil settled 6.6 per cent lower at $66.95 (U.S.) a barrel. Heavily weighted financials in Toronto lost 3.1 per cent, and industrials ended 3 per cent lower. Retailers were hit hard; Aritzia lost 20.4 per cent.