Wall Street took a hard hit on Wednesday, with big tech and auto stocks leading the crash.

The S&P 500 dropped 1.12%, the Nasdaq fell 2.04%, and even the Dow Jones dipped 0.31%.

Tesla and Nvidia are both sliding over 5% after news broke that former President Donald Trump is gearing up to announce massive auto tariffs.

Investors freaked out over reports that Trump will slap 25% tariffs on global auto imports. With the details still fuzzy, Wall Street panicked.

Tesla fell 5.6%, General Motors dropped 3.1%, and even chip giant Nvidia tumbled nearly 6%. Broadcom wasn’t spared either, sinking 5% as the entire semiconductor sector took a dive.

Experts are warning that tariffs could drive up prices, slow down production, and shake up the entire economy.

“Autos are ground zero for the negative economic impacts of tariffs,” said Jamie Cox from Harris Financial Group.

GameStop Jumps 12%

Not everything crashed, though. GameStop shot up nearly 12% after revealing it would start holding Bitcoin as a treasury asset. The meme stock legend is back at it again, proving that wild bets and crypto still have a place in the market.

S&P 500 Takes Hit

With all this market madness, Barclays lowered its S&P 500 target from 6,600 to 5,900. The index has already lost 3% this year, and the Nasdaq is down over 7%.

Investors are now waiting on Friday’s PCE inflation data, the Fed’s favorite inflation measure, to see if even more pain is coming.

With tariffs looming and inflation numbers dropping soon, volatility is here to stay.

Buckle up because the stock market rollercoaster isn’t slowing down anytime soon.