The stock market experienced significant turmoil as concerns regarding new auto tariffs loomed, leading to a 1% drop in the S&P 500 and a 1.5% decline in the Nasdaq 100. Major tech stocks, including Nvidia and Tesla, fell approximately 6% each, wiping out around $250 billion in market value. This decline was exacerbated by a fresh wave of volatility affecting U.S. stocks, particularly among large-cap tech companies and chip makers. Investors remain cautious as they await further announcements related to tariffs, contributing to the ongoing instability in the market.