U.S. Stock Market Hits Correction as Tariff Uncertainty Roils Wall Street
The S&P 500 has fallen over 10% from its February high, driven by fears surrounding President Trump's escalating trade disputes and their economic impact.
- The S&P 500 has officially entered correction territory, dropping more than 10% from its February peak, with tech-heavy Nasdaq also experiencing significant losses.
- President Trump threatened 200% tariffs on European wines and spirits, escalating trade tensions following retaliatory tariffs from the European Union on U.S. whiskey.
- Economic uncertainty has grown as businesses and consumers report declining confidence, raising concerns about reduced spending and potential stagflation risks.
- AI-focused stocks, previously market leaders, have been hit hard in the sell-off, with Nvidia and Tesla among those seeing substantial declines in 2025.
- Despite a solid U.S. job market and easing inflation data, market volatility persists as investors grapple with the unpredictable nature of tariff policies and potential government shutdown risks.
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