Summary
Wall Street entered a "correction" as the S&P 500 fell over 10% from its recent record, driven by Trump’s escalating trade war.
On Thursday, the Dow dropped 537 points (1.3%), the Nasdaq fell 2%, and the S&P 500 lost 1.4%.
Trump’s threat of 200% tariffs on European wine in retaliation for EU whiskey tariffs fueled market uncertainty.
While inflation and job market reports showed resilience, fears of economic stagnation persist. Investors remain concerned about the long-term effects of tariffs and volatile trade policies.