Wall Street’s sell-off hit a new low following President Donald Trump’s latest escalation in his trade war.
The S&P 500 fell 1.4 percent Thursday to finish more than 10 percent below its record, which was set just last month. Professional investors call such a decline a ‘correction,’ and it’s the first for the index since 2023. The Dow Jones Industrial Average fell 1.3 percent, and the Nasdaq composite lost 2 percent.
Even a pair of encouraging reports showing better-than-expected readings on inflation and joblessness couldn’t offset worries about escalating tariffs around the world. Treasury yields sank in the bond market as pessimism built about the economy.
On Thursday:
The S&P 500 fell 77.78 points, or 1.4 percent, to 5,521.52.
The Dow Jones Industrial Average fell 537.36 points, or 1.3 percent, to 40,813.57.
The Nasdaq composite fell 345.44 points, or 2 percent, to 17,303.01.
The Russell 2000 index of smaller companies fell 32.78 points, or 1.6 percent, to 1,993.69.
For the week:
The S&P 500 is down 248.68 points, or 4.3 percent.
The Dow is down 1,988.15 points, or 4.6 percent.
The Nasdaq is down 893.21 points, or 4.9 percent.
The Russell 2000 is down 81.79 points, or 3.9 percent.
For the year:
The S&P 500 is down 360.11 points, or 6.1 percent.
The Dow is down 1,730.65 points, or 4.1 percent.
The Nasdaq is down 2,007.78 points, or 10.4 percent.
The Russell 2000 is down 236.47 points, or 10.6 percent.
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