According to Reuters, companies listed on the S&P 500 experienced a collective decrease in stock market value of $2.4 trillion during Thursday's market downturn, marking their most significant single-day loss since the onset of the global financial turmoil caused by the COVID-19 pandemic on March 16, 2020.

The S&P 500 index closed nearly 5% lower following concerns sparked by U.S. President Donald Trump's extensive tariffs, which raised apprehensions about a potential worldwide trade conflict and an economic downturn on a global scale.

(Referring to reporting by Noel Randewich; Edited by Chris Reese)