Wall Street ended moderately lower after careening from a small gain to as much as 10 percent below its record. The whipsaw trading followed the latest escalation in President Donald Trump’s trade war.
The S&P 500 fell 0.8 percent Tuesday, after falling as much as 1.5 percent. The Dow Jones Industrial Average fell 478 points, or 1.1 percent. The Nasdaq composite slipped 0.2 percent.
Gains for Tesla and other influential stocks muted the losses.
Trump said he would double his planned tariffs on steel and aluminum for Canada, a retaliation that prompted the provincial government of Ontario to back down on its planned surcharges on electricity sold to the United States.
On Tuesday:
The S&P 500 fell 42.49 points, or 0.8 percent, to 5,572.07.
The Dow Jones Industrial Average fell 478.23 points, or 1.1 percent, to 41,433.48.
The Nasdaq composite fell 32.23 points, or 0.2 percent, to 17,436.10.
The Russell 2000 index of smaller companies rose 4.53 points, or 0.2 percent, to 2,023.59.
For the week:
The S&P 500 is down 198.13 points, or 3.4 percent.
The Dow is down 1,368.24 points, or 3.2 percent.
The Nasdaq is down 760.13 points, or 4.2 percent.
The Russell 2000 is down 51.89 points, or 2.5 percent.
For the year:
The S&P 500 is down 309.56 points, or 5.3 percent.
The Dow is down 1,110.74 points, or 2.6 percent.
The Nasdaq is down 1,874.70 points, or 9.7 percent.
The Russell 2000 is down 206.56 points, or 9.3 percent.
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