U.S. stocks surrendered a chunk of their historic gains from the day before as President Donald Trump’s trade war continues to threaten the economy.
The S&P 500 fell 3.5% Thursday. The Dow Jones Industrial Average dropped 2.5%, and the Nasdaq composite sank 4.3%.
China announced more countermeasures against the United States, and losses for stocks accelerated after the White House clarified that it will tax Chinese imports at 145%, not the 125% rate Trump had earlier written about. The swings also hit the bond market despite a better-than-expected report on inflation. U.S. crude oil prices fell more than 3%.
On Thursday:
The S&P 500 fell 188.85 points, or 3.5%, to 5,268.05.
The Dow Jones Industrial Average fell 1,014.79 points, or 2.5%, to 39,593.66.
The Nasdaq composite fell 737.66 points, or 4.3%, to 16,387.31.
The Russell 2000 index of smaller companies fell 81.77 points, or 4.3%, to 1,831.39.
For the week:
The S&P 500 is up 193.97 points, or 3.8%.
The Dow is up 1,278.80 points, or 3.3%.
The Nasdaq is up 799.52 points, or 5.1%.
The Russell 2000 is up 4.36 points, or 0.2%.
For the year:
The S&P 500 is down 613.58 points, or 10.4%.
The Dow is down 2,950.56 points, or 6.9%.
The Nasdaq is down 2,923.48 points, or 15.1%.
The Russell 2000 is down 398.76 points, or 17.9%.
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