Dow slides and S&P enters correction territory as Trump’s trade war escalates

  • CNN
  • March 13, 2025
New York

CNN

 — 

US stocks slid Thursday and the S&P 500 entered correction territory, down 10% from its record high in February, as President Donald Trump threatened new tariffs on the European Union.

The Dow slid by 500 points, the S&P 500 fell 1.3% and the Nasdaq Composite was 1.8% lower. If the S&P closes at current levels, it will be an official market correction.

Trump on Thursday threatened to impose a 200% tariff on alcoholic beverages from the European Union after the bloc on Wednesday imposed a 50% tariff on US spirits like bourbon.