Wall Street ended sharply lower on Thursday and the S&P 500 confirmed it is in a correction after cool inflation data was overshadowed by fears that the escalating tariff war being waged by the United States against some of its biggest trading partners could reignite inflation and tip the economy into recession.

NEW YORK — Wall Street’s sell-off hit a new low Thursday after President Trump’s escalating trade war dragged the S&P 500 more than 10% below its record, which was set just last month.

The U.S. stock market is falling further Tuesday following President Donald Trump’s latest escalation in his trade war , briefly pulling Wall Street 10% below its record set just a few weeks ago . The S&P 500 was down 0.