Wall Street sell-off spirals, briefly sends US stocks 10% below its record

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Wall Street sell-off spirals, briefly sends US stocks 10% below its record - Business Standard

Quick Summary:

Wall Street's sell-off is spiralling Tuesday following President Donald Trump's latest escalation in his trade war, briefly pulling the US stock market 10% below its record set just a few weeks ago.The S&P 500 was down 1.4% in afternoon trading after Trump said he would raise tariffs on steel and aluminum coming from Canada, doubling their planned increase to 50%.

The president said it was a response to moves a Canadian province made after Trump began threatening tariffs on one of the United States' most important trading partners.

The S&P 500 was sitting at the edge of what Wall Street calls a correction," where it falls 10%, and was sitting within 0.1 percentage points of the mark.