Wall Street is closing with stocks sharply lower one day after President Trump announced sweeping global tariffs.
The S&P 500 finished in correction territory as the White House announced a baseline tariff rate of ten-percent against most countries that will go into effect on Saturday.
The broad market index fell by five-percent, which is its worst day since 2022.
At the closing bell, the Dow Jones Industrial Average fell by 16-79 to 40-545. The S&P 500 lost 274 points to 53-96. The Nasdaq lost 10-50 points to 16-550.