By Lewis Krauskopf and Saqib Iqbal Ahmed
- S&P 500 down over 8% from Feb 19 all-time high
- Nasdaq confirmed 10% correction from its Dec peak last week
- S&P 500 P/E moderates but still high vs historical average
- Delta Air Lines cuts forecast on growing economic uncertainty
- Tesla loses more than $125 bln in value in one day
NEW YORK, March 10 (Reuters) – President Donald Trump’s tariffs have spooked investors, with fears of an economic downturn driving a stock market sell-off that has wiped out $4 trillion from the S&P 500’s peak last month, when Wall Street was cheering much of Trump’s agenda.
A barrage of new Trump policies has increased uncertainty for businesses, consumers and investors, notably back-and-forth tariff moves against major trading partners like Canada, Mexico and China.
“We’ve seen clearly a big sentiment shift,” said Ayako Yoshioka, senior investment strategist at Wealth Enhancement. “A lot of what has worked is not working now.”
The stock market selloff deepened on Monday. The benchmark S&P 500 (.SPX), opens new tab fell 2.7%, its biggest daily drop of the year. The Nasdaq Composite (.IXIC), opens new tab slid 4%, its largest one-day decline since September 2022.
The S&P 500 on Monday closed down 8.6% from its February 19 record high, shedding over $4 trillion in market value since then and nearing a 10% decline that would represent a correction for the index. The tech-heavy Nasdaq ended Thursday down more than 10% from its December high….
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Kojin Karatani’s theorising on modes of exchange and the ring of Capital-Nation-State
Noam Chomsky: Savage capitalist lunatics are running the asylum
After the truth-shower 