The U.S. stock market has gone taken a nosedive since President Donald Trump announced tariffs for many countries around the world. Here's what to know.

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Stock indexes have been posting records recently -- but not the kind of records investors like. The S&P 500 on Friday delivered its worst performance since the start of the pandemic back in 2020. And both the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq (NASDAQINDEX: ^IXIC) on March 31 completed their worst quarter since 2022.