Tariff worries rattled Wall Street again Thursday, pushing the S&P 500 into a correction that left it at the lowest in six months.
The S&P 500 fell 1.4% on the day, bringing its three-week rout past 10%, a level that meets the technical threshold for a correction. It’s down more than 6% for the year. The tech-heavy Nasdaq 100 Index, also in a correction, tumbled 1.9% on the day. The Dow Jones Industrial Average fell 1.3%, bringing it 9.3% below its last record in December.
The 16 trading sessions it took for the S&P 500 to tumble by this magnitude from its Feb. 19 high marks the seventh-fastest correction in records going back to 1929, data compiled by Bloomberg show. Three of the seven-fastest drawdowns of this magnitude happened under U.S. President Donald Trump — in 2018, 2020 and now.
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