Economics

673 readers

463 users here now

founded 2 years ago

152

Wall Street tumbles 10% below its record for first 'correction' since 2023 on Trump's trade war (apnews.com)

submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world

8 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] electricyarn@lemmy.world 30 points 1 week ago

The job report at the end of this month is going to cause another correction.