Market Turmoil: US Stocks Tumble Amid Trade Uncertainty

US stocks took a nosedive as President Trump's trade war reignited fears, erasing some of the previous day's gains. The S&P 500 fell 3.6%, and the Dow dropped 1,135 points partly due to increased tariffs on Chinese imports. The uncertainty has fueled volatility in global markets.

In a dramatic turn, US stocks plunged on Thursday, undoing a portion of their gains from the previous day. This turbulence is largely blamed on President Donald Trump's trade war, which has once again unsettled investors.

The S&P 500 fell by 3.6% during afternoon trading, cutting into the prior day's impressive 9.5% rally following Trump's announcement to halt many tariffs globally. The Dow Jones Industrial Average tumbled 1,135 points, or 2.8%, while the Nasdaq saw a 4.3% dip.

Growing confusion over tariff rates, especially concerning Chinese imports, intensified the sell-off. The latest White House clarification stated tariffs on Chinese goods would be 145%, a blow that spurred further market anxiety.

(With inputs from agencies.)