This clip will go down in history:

At 4:25 PM ET, S&P 500 futures were trading +1.7% higher.

At 4:26 PM ET, Howard Lutnick handed a poster outlining "reciprocal tariffs" to President Trump.

Stock market futures fell REAL-TIME as Trump read off tariffs name by name.

By 4:42 PM ET, the S&P 500 erased over -$2 TRILLION in market cap.

That's -$125 billion per minute.