Mumbai, Feb. 10 -- The Nasdaq dove 268.59 points (1.3%) to 19,523.40, the Dow tumbled 444.23 points (1%) to 44,303.40 and the S&P 500 slumped 57.58 points (1%) to 6,025.99.

The University of Michigan said its consumer sentiment index slumped to 67.8 in February after rising to 71.1 in January. Economists had expected the index to inch up to 72. The deterioration by consumer sentiment came as year-ahead inflation expectations spiked to 4.3% in February from 3.3% in January, reaching the highest level since November 2023.

Stocks saw further downside after President Donald Trump said he plans to announce reciprocal tariffs on many countries next week, with the U.S. imposing tariffs on imports equal to the rates imposed on American exports....