Wall Street tumbles 10% below its record for first 'correction' since 2023 on Trump's trade war
Wall Street tumbles 10% below its record for first 'correction' since 2023 on Trump's trade war
Wall Street’s sell-off hit a new low following President Donald Trump’s latest escalation in his trade war.
Summary
Wall Street entered a "correction" as the S&P 500 fell over 10% from its recent record, driven by Trump’s escalating trade war.
On Thursday, the Dow dropped 537 points (1.3%), the Nasdaq fell 2%, and the S&P 500 lost 1.4%.
Trump’s threat of 200% tariffs on European wine in retaliation for EU whiskey tariffs fueled market uncertainty.
While inflation and job market reports showed resilience, fears of economic stagnation persist. Investors remain concerned about the long-term effects of tariffs and volatile trade policies.
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“Correction”
I wonder how long they’ll keep calling it a correction. Full recession? Depression?
Maybe I’m mistaken but I thought “correction” is a term used for the market while “recession” and “depression” are terms used to describe sustained negative GDP growth?
Yes. However, my sarcastic statement is that they would continue to call it a correction even after economic collapse.
Inversion?