S&P 500 Dips Closer to Correction Territory
The White House’s tariff threats have sent the S&P 500 spiraling near correction territory, but Treasury Secretary Scott Bessent suggested the Trump administration isn’t worried, for now.
The Dow was down 222 points, or 0.5%, while the S&P 500 was down 0.6%. The Nasdaq Composite was down 1.1%. The S&P was about 32 points away from a 10% decline from its Feb. 19 record close, which would put the index in correction territory. The Nasdaq entered a correction last week.
For those hoping President Donald Trump will withdraw some of his tariffs that have sowed uncertainty about the global economy in markets, Bessent seemed to double down in an interview with CNBC.