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You are here News Economy Wall Street tumbles as trade war threatens U.S. economy

Wall Street tumbles as trade war threatens U.S. economy

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Wall Street tumbles amid trade warWall Street’s main indexes suffered their sharpest one-day declines in nearly six weeks on Wednesday after employment and manufacturing data suggested that the U.S.-China trade war is taking an increasing toll on the U.S. economy.

Adding to trade concerns, the United States won approval on Wednesday to levy import tariffs on $7.5 billion worth of European goods over illegal EU subsidies handed to Airbus (AIR.PA), threatening to trigger a tit-for-tat transatlantic trade war.

All 11 major S&P sector indexes fell, with energy .SPNY and financials .SPSY each down more than 2%.

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