(Bloomberg) — A three-week drawdown in US stocks resumed in force, again sending the S&P 500 to the precipice of a 10% correction. Fresh salvos in President Donald Trump’s trade war doused optimism spurred by another benign inflation report and stoked demand for havens in Treasuries.
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Despite some attempts to snap up discounted shares, the S&P 500 hasn’t notched two straight days of gains since its February peak. Since then, the gauge has shed about $5 trillion in value. As investors questioned lofty valuations in the market’s most-influential group, big tech came under renewed pressure, dragging the US equity benchmark down about 1% Thursday.
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