Investors are showing strong disapproval towards the ongoing trade war, reflected in the significant drop in stock prices following the White House's announcement of sweeping tariffs that have created uncertainty in the market.

The recent market plunge, with the S&P 500, Dow, and Nasdaq all taking significant hits, highlighted the negative sentiment towards the trade war. President Trump's optimism about the benefits of tariffs for the American industry has not provided much relief to investors.

This downturn raises questions about whether the extended period of market growth that began in 2009 is coming to an end. The imposition of tariffs has heightened concerns, as historical data indicates that earnings growth is a major factor driving stock market performance.

Goldman Sachs previously predicted a decline in S&P 500 earnings for each 5-percentage-point increase in the tariff rate, a concern given the current rate of around 20%. The sudden escalation in tariffs has reignited fears of the negative consequences of protectionism on the market and the economy.

Despite the current market turmoil, experienced investors like Michael Farr view this as a buying opportunity, considering past instances of market resilience. However, the market's reaction to the tariffs has rattled many investors who had grown accustomed to consistent gains in recent years.

Looking ahead, the expectation is for the market to continue trending downwards in the near term due to uncertainties surrounding the impact of the new tariffs on corporate earnings. Analysts predict a potential decline in S&P 500 earnings per share ranging from 5% to 32%, depending on the extent of the trade war and resulting implications on company costs and consumer demand.