The S&P 500 is poised to see a significant decline in market value at the market open, with Bloomberg reporting that approximately $1.7 trillion is set to be erased. This development is part of broader market movements. Concurrently, the Russell 2000 Index has officially entered bear market territory for the first time since 2022, falling 4.5%. This downturn is attributed to the ongoing trade war, impacting small-cap stocks significantly. US stocks have extended losses to a new low of the day as the S&P 500 nears -$2 trillion in lost market cap.