Stocks sank on Wall Street after President Donald Trump threatened to hit eight European countries with new tariffs as tensions escalate over his attempts to assert American control over Greenland.
The S&P 500 fell 2.1% Tuesday, its biggest drop since October. Technology stocks were the biggest weights. The Dow Jones Industrial Average dropped 1.8%. The Nasdaq composite slumped 2.4%.
Trump said Saturday that he would charge a 10% import tax starting in February on goods from the eight European nations.
Long-term Treasury yields rose in the bond market.
On Tuesday:
The S&P 500 fell 143.15 points, or 2.1%, to 6,796.86.
The Dow Jones Industrial Average fell 870.74 points, or 1.8%, to 48,488.59.
The Nasdaq composite fell 561.07 points, or 2.4%, to 22,954.32.
