S&P 500 Enters Correction as Trump Threatens New EU Tariffs

Wall Street turmoil deepens with escalating trade tensions, while Asian markets rebound on hopes of U.S. shutdown resolution.

The S&P 500 has fallen over 10% from its recent peak, officially entering correction territory alongside the Nasdaq Composite.
President Donald Trump has announced plans for a 200% tariff on European alcohol in retaliation for EU tariffs on U.S. whiskey and other goods.
Asian markets saw gains on Friday, buoyed by optimism that U.S. lawmakers will pass a bill to avert a government shutdown.
Gold prices surged to a record high of $2,990.21 per ounce as investors sought safe-haven assets amid global trade uncertainties.
Economic data showed U.S. wholesale inflation remained flat in February, but recession fears persist due to trade policies and market volatility.