S&P stock market suffers first ‘correction’ since 2023 having lost 10% of its record-high since Trump took office

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The sell-off on Wall Street struck a new low Thursday following the expanding trade war pushed by President Donald Trump, dragging the S&P 500 more than 10 percent below the record set last month.

Such a drop of 10 percent is referred to as a “correction” among professional investors, and the index’s 1.4 percent slump on Thursday was the first correction for the index since 2023.

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