- S&P 500 The revision was made on Thursday three weeks after Trump’s 200% tariff threat on European wine and champagne. Inflation cooled in February, but news wasn’t enough to prevent the S&P from falling 10%.
Amidst President Donald Trump’s latest tariff threat, latest inflation data and concerns over the shutdown of the production-enabled government, the most popular indicator was revised Thursday.
The S&P 500 fell 1.4% on Thursday, reaching its index deadline just three weeks ago, falling more than 10% below the all-time high that was classified as the corrections area. Wall Street is considering a market correction, with an index that has fallen by more than 10% from its recent peak.
Furthermore, the high-tech-focused Nasdaq composite has slided nearly 2% and is already in the corrections area as of last week. The Dow Jones industrial average fell nearly 550 points, a slip of 1.3%.
“I think what the market is telling us is that they are very concerned about the possibility of a recession,” said Christina Hooper, Chief Global Market Strategist at Invesco. New York Times. “That’s certainly not what the market expected to be 2025.”
Latest inflation data suggests prices have been cooled after the consumer price index increased seasonally to 0.2% in February, sticking inflation to 2.8%. Ministry of Labor.
The cooling price is not the cause of celebration, as Trump’s recent tariff threats bring inflation concerns to Wall Street.
Earlier on Thursday, Trump warned of 200% tariffs on European wine, champagne and other spirits in helpless retaliation over the European Union’s announcement that the Bullock would impose a 50% obligation on US whiskey and bourbon. EU tariffs were retaliation against Trump’s global tariffs on 25% steel and aluminum.
“In just a few weeks, the broader market has now moved from record highs to correction territory,” said the chief technical strategist at LPL Financial Adam Turnquist in a memo obtained. CNN. “Tax uncertainty accounts for the sales pressure and exacerbates concerns about economic growth.”
The growing concern over government shutdowns adds to investor skepticism. Senate Democrats have urged the GOP to block the Republican spending bill and prevent it from closing, and to embrace the blue plan that will provide funding until April 11th.
Wall Street wants market stability, but the tariff issues appear to remain, as Trump told reporters that Canada would not consider tariff pardons.
“Sorry, I have to do this,” he said.
This story was originally featured on Fortune.com.
