The White House’s tariff reveal sent Wall Street into a tailspin on Thursday as many commentators viewed the levels of import taxes on some countries as a worst-case scenario for the market.
The Dow dropped 1,340 points, or 3.2%, in Thursday afternoon trading. The Nasdaq Composite fell 5.1%. The S&P 500 fell 4%.
The major indexes managed to rebound slightly off their lows of the session but were still trading sharply lower on the day.