By Jorge Mercado Thursday, April 3rd, 2025

Trillions of dollars were wiped out from the stock market on April 3, with major indices suffering their worst one-day loss since 2020 and many of the Central Coast’s most prominent public companies also seeing a big hit to their share price.

The S&P 500 dropped 4.8% on April 3, while the Dow Jones Industrial Average tumbled 1600 points, with both indices posting their worst day since June 2020. The tech-heavy Nasdaq fell nearly 6% and posted its largest decline since March 2020.

This steep sell-off comes after President Trump unveiled even more tariffs, including a 34% tax on imports from China, a 20% tax on imports from the European Union, 25% on South Korea, 24% on Japan and 32% on Taiwan.

Investors and analysts are fearful that the sweeping tariffs could lead to a global trade war and hurt the overall economy.

As a result, stocks lost roughly $3.1 trillion in market value on April 3, the largest one-day decline since the early days of the pandemic.

This drop hit the region hard as well as six of the tri-county’s publicly traded stocks dropped more than 10% on April 3.

The biggest loser on April 3 was Semtech, an Internet of Things provider based in Camarillo which lost 19%. Shares are down 52% since the start of the year.

Santa Barbara-based Sonos, which has had its share of troubles since last year, also saw a steep 17.3% decline. Deckers, which is a part of the S&P 500, dropped 14.5% while ad-tech firm The Trade Desk saw shares fall 12.8%.

Olaplex shares fell 11% while Carpinteria-based Procore saw its stock drop 10%.

Amgen, the region’s most valuable company by market cap, was the only major company to post a positive day, finishing up 1.3%. Teledyne saw shares fall 5%.

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