The S&P 500 fell almost 5 percent on Thursday, its worst drop since June 2020, as President Trump’s higher-than-expected tariffs set off another round of economic worry. President Trump’s escalation of a global trade war on Thursday fueled the worst stock market sell-off since the coronavirus pandemic, as investors worried that the steep tariffs imposed on America’s trading partners would push the economy into a downturn. The index, which had already fallen five of the last six weeks, tipped into correction territory, which means it has declined more than 10 percent from its latest peak and which is a line in the sand for investors assessing the severity of a recent drop.
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