Wall Street ended moderately lower after careening from a small gain to as much as 10% below its record. The whipsaw trading followed the latest escalation in President Donald Trump’s trade war.
The S&P 500 fell 0.8% Tuesday, after falling as much as 1.5%. The Dow Jones Industrial Average fell 478 points, or 1.1%. The Nasdaq composite slipped 0.2%.
Gains for Tesla and other influential stocks muted the losses.
Trump said he would double his planned tariffs on steel and aluminum for Canada, a retaliation that prompted the provincial government of Ontario to back down on its planned surcharges on electricity sold to the U.S.
On Tuesday:
The S&P 500 fell 42.49 points, or 0.8%, to 5,572.07.
The Dow Jones Industrial Average fell 478.23 points, or 1.1%, to 41,433.48.
The Nasdaq composite fell 32.23 points, or 0.2%, to 17,436.10.
The Russell 2000 index of smaller companies rose 4.53 points, or 0.2%, to 2,023.59.
For the week:
The S&P 500 is down 198.13 points, or 3.4%.
The Dow is down 1,368.24 points, or 3.2%.
The Nasdaq is down 760.13 points, or 4.2%.
The Russell 2000 is down 51.89 points, or 2.5%.
For the year:
The S&P 500 is down 309.56 points, or 5.3%.
The Dow is down 1,110.74 points, or 2.6%.
The Nasdaq is down 1,874.70 points, or 9.7%.
The Russell 2000 is down 206.56 points, or 9.3%.
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