Stocks tumble on Thursday, pushing the S&P 500 into a 10% correction: Live updates

Stocks fell on Thursday, with equities unable to shake a three-week market rout beneath the weight of recent tariff threats from President Donald Trump.

The S&P 500 dropped about 1.3%, bringing its losses from its document shut in February to 10%. If the benchmark closes at these ranges, it will likely be an official market correction, in response to Wall Road. The Dow Jones Industrial Common fell 481 factors, or 1.2%, its fourth day of declines placing it beneath the 41,000 stage. The Nasdaq Composite shed 1.8% with shares like Tesla and Apple decrease.

Trump took to his Fact Social platform Thursday morning to threaten 200% tariffs on all alcoholic merchandise coming from nations in the European Union in retaliation for the bloc’s 50% tariff on whisky. “This can be nice for the Wine and Champagne companies in the U.S.,” he wrote. Trump later remarked that he would not be altering his thoughts on a broader group of tariffs set to be applied on April. 2.

The disorderly rollout of Trump’s U.S. commerce coverage has rattled markets this month, with traders anxious it was pressuring company and client confidence. The losses have intensified this week. The S&P 500 and Nasdaq are respectively on monitor for losses of three.4% and three.8% week to this point. The Dow is off 3.9% in the interval, heading for its greatest weekly decline since March 2023.

“These tariff wars are intensifying earlier than they’re abating. It simply provides to unpredictability and uncertainty, and that is a adverse for shares, clearly,” stated Jed Ellerbroek, portfolio supervisor at Argent Capital Administration.

On Thursday, Treasury Secretary Scott Bessent stated that the Trump administration is extra centered on the long-term well being of the economic system and markets, relatively than short-term actions. “I am not involved about a little little bit of volatility over three weeks,” he stated on CNBC’s “Squawk on the Road.”

Stocks fell regardless of some encouraging inflation indicators. February’s producer worth index — which measures the value of manufacturing client items and is a good indicator of inflationary pressures — was flat that month, in contrast with an anticipated improve. This follows a softer-than-expected February client worth index studying.

Although market strategists have been awaiting a technical bounce after the latest dump, some say the newest inflation knowledge doubtless is not sufficient to result in a sizable rebound. Issues over Trump’s commerce insurance policies stay a key hangover on investor sentiment, they usually throw into query how the Federal Reserve might proceed on rates of interest.

“I believe the Fed would love for charges to be decrease, and the economic system would love for charges to be decrease … however we’re not seeing physique language from the Fed that is saying they’re imminently going to get off the pause button right here,” Ellerbroek added.