US stock market takes another tumble as Trump threatens tariffs on wine
US stock market takes another tumble as Trump threatens tariffs on wine
Benchmark S&P 500 falls 1.39 percent, dragging index more than 10 percent below its February peak.
Author: John Power
Published on: 14/03/2025 | 00:00:00
AI Summary:
The benchmark S&P 500 fell 1.39 percent on Thursday, dragging the index into a correction. The index last entered correction territory in October 2023. Dow Jones Industrial Average and Nasdaq Composite also recorded sharp declines. Trump threatened to slap a 200 percent tariff on wine, champagne and other alcoholic products from the EU. The bloc announced plans to impose a 50% tariff on US bourbon whiskey from April 1 in response to US duties on steel and aluminium that went into effect.
Original: 390 words
Summary: 82 words
Percent reduction: 78.97%
The booze wars