Wall Street Tumbles as Trump’s Tariff Threats Roil Markets
Stocks in the US plunged on Thursday, extending a three-week selloff as renewed tariff threats from President Donald Trump rattled investor confidence.
The S&P 500 fell 1.4%, inching closer to correction territory, while the Nasdaq 100 dropped 1.9%, weighed down by declines in Apple (-3.4%) and Tesla (-3%). The Dow Jones lost 536 points, slipping below the 41,000 mark for the first time in weeks. Trade tensions escalated after Trump threatened a 200% tariff on European wines and spirits in retaliation for the EU’s planned duties on American whiskey, amplifying concerns over an intensifying trade war.
Meanwhile, producer price inflation data came in softer than expected, with the headline figure remaining flat and the core rate dipping 0.1%, reinforcing yesterday’s cooler CPI report. In corporate news, Adobe shares plunged 13.8% after issuing a weak revenue outlook, while Intel surged 14.6% following the announcement of a new CEO.
Source : Trading Economics