Markets In Official “Correction” Mode Amid Tariff Tensions, Possible Government Shutdown
deadline.comU.S. stocks fell again Thursday with the S&P 500 officially entering “correction” territory. Economic jitters are on the rise amid President Trump’s trade wars and a possible government shutdown.
Notably, after slapping heavy import taxes on global steel and aluminum imports, he kicked off Thursday threatening to respond to European Union countermeasures with a 200% tariff on imports of EU wines and spirits.
The S&P 500 fell 1.4% — officially considered a correction now as it’s fallen by more than 10% from its February high. It’s lost an estimated $5.3 trillion since then in the index’s first correction since October of 2023, according to the WSJ.
The Nasdaq, which itself entered a correction last week, dropped 2% today. The Dow Jones Industrial Average fell nearly 550 points, or 1.3%.
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