The U.S. dollar has erased all gains made since Donald Trump's election victory on November 5, 2024, as market indices experienced substantial declines. The Nasdaq 100 fell by 5.4%, marking its largest drop since September 2022, while the S&P 500 closed down 4.8%, the steepest decline since June 2020. Additionally, the KBW Bank Index plummeted by 9.9%, the most significant drop since the regional banking crisis. The Bloomberg Commodity Spot Index also saw its largest decrease since December 2022.