S&P 500 ends down 1.6% as tariff angst kills US stocks rally

Wall Street stocks tumbled again on Tuesday as initially successful efforts to rebound from big losses faded amid worries over United States President Donald Trump’s trade wars. All three major indices finished firmly in the red, with the S&P 500 shedding 1.6% to 4982.

77, its first close below 5000 points in nearly a year. The Dow Jones Industrial Average ended down 0.8% at 37,645.



59, a swing of about 1780 points below its session peak, while the tech-rich Nasdaq Composite Index shed 2.2% to 15,267.91.

After three days of losses, Wall Street stocks opened buoyantly as traders embraced talk of White House negotiations with Japan and South Korea in the hopes Trump’s trade onslaught might be short-lived. But investors grew edgy as the day progressed with no concrete progress. Meanwhile, the White House confirmed plans for massive tariffs on China to go into effect overnight.

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