Wall Street’s sell-off hit a new low Thursday after President Donald Trump’s escalating trade war dragged the S&P 500 more than 10% below its record, which was set just last month.
Wall Street’s sell-off hit a new low Thursday after President Donald Trump’s escalating trade war dragged the S&P 500 more than 10% below its record, which was set just last month.
A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s 1.4% slide on Thursday sent the index to its first since 2023. The losses came after Trump upped the stakes in his trade war by threatening huge taxes on European wines and alcohol.
