Mumbai, May 26 -- The tech-heavy Nasdaq tumbled as much as 1.7% early in the session before ending the day down 188.53 points (1%) at 18,737.21. The S&P 500 also slid 39.19 points (0.7%) to 5,802.82 and the Dow fell 256.02 points (0.6%) at 41,603.07.

Wall Street saw an early decline after former President Trump threatened 50% tariffs on EU imports starting June 1st, citing stalled trade talks. In another post, he warned of a 25% tariff on Apple iPhones made outside the U.S., causing Apple shares to drop 3%. These statements reignited trade tensions that had recently eased due to deals with the U.K. and China. The renewed uncertainty rattled investors and stirred fears of a broader trade conflict.

Traders were also looking ahead to earni...