Stocks racked up more losses on Wall Street Tuesday as a trade war between the U.S. and its key trading partners escalated, wiping out all the gains since Election Day for the S&P 500.
Economic forecasts have been weakening. While some see slower growth, several commentators see the chance of an outright recession rising this year.
A rout on Wall Street deepened on Tuesday as companies and investors digested the impact of President Donald Trump's decision to impose tariffs on the U.S.'s biggest trading partners, as well as retaliatory tariffs from Canada, China and Mexico.
Wall Street’s sell-off kicked back into gear after tariff whiplash and falling AI stocks dragged the market lower.
Stocks were rallying Wednesday after Commerce Secretary Howard Lutnick signaled the U.S. could be prepared to scale back its tariffs on Canada and Mexico, but the best-known measure of market uncertainty remained elevated.