U.S. stocks dropped after a second day of stunning reversals.
The S&P 500 fell 1.6 percent Tuesday after wiping out an early gain of 4.1 percent, which had it on track for its best day in years. That brought the index nearly 19 percent below its record set in February. The Dow Jones Industrial Average dropped 320 points after giving up an earlier surge of 1,460, while the Nasdaq composite lost 2.1 percent.
Uncertainty is still high about what President Donald Trump will do with his trade war. The latest set of tariffs, including a massive 104 percent levy on Chinese imports, are scheduled to kick in after midnight.
On Tuesday:
The S&P 500 fell 79.48 points, or 1.6 percent, to 4,982.77.
The Dow Jones Industrial Average fell 320.01 points, or 0.8 percent, to 37,645.59.
The Nasdaq composite fell 335.35 points, or 2.1 percent, to 15,267.91.
The Russell 2000 index of smaller companies fell 49.43 points, or 2.7 percent, to 1,760.71.
For the week:
The S&P 500 is down 91.31 points, or 1.8 percent.
The Dow is down 669.27 points, or 1.7 percent.
The Nasdaq is down 319.87 points, or 2.1 percent.
The Russell 2000 is down 66.32 points, or 3.6 percent.
For the year:
The S&P 500 is down 898.86 points, or 15.3 percent.
The Dow is down 4,898.63 points, or 11.5 percent.
The Nasdaq is down 4,042.88 points, or 20.9 percent.
The Russell 2000 is down 469.45 points, or 21.1 percent.
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