Carinia, a professor at the University of San Francisco, talks to CBS News Bay Area's Ryan Yamamoto about the impact to the stock market and retirement accounts in the wake of President Donald Trump's tariff announcement.

Tech stocks were pummeled Thursday following President Trump’s earlier tariff announcement, a sign of how vulnerable the sector is to a possible recession as well as to higher prices on everything from consumer goods to hardware.

Trump announced sweeping tariffs on U.S. trading partners sparking fears of a global trade war. He said it is necessary to make it fair for American manufacturers and return jobs to America. However, experts have said his plan could have a massive negative impact on the economy.

Roughly $2.5 trillion was erased from the S&P 500 Index on Thursday amid worries that President Donald Trump’s sweeping new round of tariffs could plunge the economy into a recession.

Stock investors in Bangladesh are apprehensive about the US hiking import tariffs, a move that could hurt the South Asian nation’s exports and the profitability of export-oriented listed firms.

I said this would exactly be the way it is. We have six or $7 trillion coming in to our country, and we’ve never seen anything like it. The markets are going to boom, the stock is

The major averages added to Thursday's $2.5 trillion wipeout after China said it will impose additional tariffs of 34% on all US products from April 10 — matching the extra 34% duties imposed by Trump on Wednesday.

The president enthusiastically posted a video claiming that all of the chaos of the last few days was intentional. Unfortunately, its sourcing was less than perfect.

The impact of the president's tariffs will be widespread, and it's not yet clear how long the impacts will last.