U.S. stocks surrendered a chunk of their historic gains from the day before as President Donald Trump’s trade war continues to threaten the economy.
The S&P 500 fell 3.5 percent Thursday. The Dow Jones Industrial Average dropped 2.5 percent, and the Nasdaq composite sank 4.3 percent.
China announced more countermeasures against the United States, and losses for stocks accelerated after the White House clarified that it will tax Chinese imports at 145 percent, not the 125 percent rate Trump had earlier written about. The swings also hit the bond market despite a better-than-expected report on inflation. U.S. crude oil prices fell more than 3 percent.
On Thursday:
The S&P 500 fell 188.85 points, or 3.5 percent, to 5,268.05.
The Dow Jones Industrial Average fell 1,014.79 points, or 2.5 percent, to 39,593.66.
The Nasdaq composite fell 737.66 points, or 4.3 percent, to 16,387.31.
The Russell 2000 index of smaller companies fell 81.77 points, or 4.3 percent, to 1,831.39.
For the week:
The S&P 500 is up 193.97 points, or 3.8 percent.
The Dow is up 1,278.80 points, or 3.3 percent.
The Nasdaq is up 799.52 points, or 5.1 percent.
The Russell 2000 is up 4.36 points, or 0.2 percent.
For the year:
The S&P 500 is down 613.58 points, or 10.4 percent.
The Dow is down 2,950.56 points, or 6.9 percent.
The Nasdaq is down 2,923.48 points, or 15.1 percent.
The Russell 2000 is down 398.76 points, or 17.9 percent.
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