Stocks Sink as Tariff Back-and-Forth Roils Trading: Markets Wrap
- Trump delays Canada, Mexico tariffs for goods under USMCA
- Equity selloff drives Nasdaq 100 to the brink of a correction
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Wall Street traders continued to navigate intense, quick and sharp market swings amid a slew of tariff headlines, with stocks getting pummeled after almost wiping out their losses.
The S&P 500 slid 1.8% and the Nasdaq 100 sank 2.8%, with the tech-heavy gauge on the brink of a technical correction. Sentiment was so fragile that equities failed to stage a rebound even after President Donald Trump’s decision to delay levies on Mexican and Canadian goods covered by the North American trade deal. The dollar saw its longest losing streak since September, while the peso and the loonie rose. Treasury trading was fairly muted.