But uncertainty around Trump's tariff policy continues to grip Wall Street, and his trade war has only intensified this week. The president has vowed to respond to tariffs planned by the EU and Canada in response to US duties on steel and aluminum imports — most notably leading off Thursday by threatening a 200% tariff on imports of EU wines and spirits.

U.S. stock indexes fell on Thursday following President Donald Trump's threat to impose additional tariffs on imports from the European Union, although data showing cooling inflation offered some respite.

They thought his second term would be like the first, giving priority to economic growth and the stock market. Trump had other ideas.

Wall Street thought the stock market would act as a check on the president. It's not panning out.

A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s 1.4% slide on Thursday sent the index to its first si