Market Turmoil: Wall Street Struggles Amid Trade War Tensions

Wall Street stocks took a dive due to concerns over President Trump's multilateral tariff disputes, reversing previous gains. Investor unease persists as trade uncertainties cloud economic outlooks, despite a temporary tariff reprieve. The tech and energy sectors were hit the hardest, and earnings season looms ahead.

Stocks on Wall Street plunged Thursday as lingering doubts over the economic fallout from U.S. President Donald Trump's comprehensive tariff battles piled pressure on the markets. Despite a temporary lift from a 90-day tariff pause, the significant losses shook investor confidence.

The S&P 500 and Nasdaq saw their gains erased following a rally driven by Trump's tariff reprieve. The sell-off leaves the S&P 500 still trailing by 7.1% from its pre-tariff announcement point. Investors remain unsettled by the situation, particularly regarding the ongoing U.S.-China trade face-off.

Despite weaker-than-expected consumer price growth, the Federal Reserve's response remains uncertain as trade issues persist. As businesses anticipate first-quarter earnings reports, pressures on technology and energy sectors weigh heavily on the market, with the 'fear index' highlighting continual investor wariness.

(With inputs from agencies.)