Wall Street crash, March 17 -- The world's largest stock market has been in a freefall in recent weeks as weak sentiments among investors persist amid growing concerns that Donald Trump's trade wars with the country's closest trading partners could pull down the economy, causing them to flee from risky bets at an accelerated pace.

The selling took another leg down last week after Trump threatened 200% tariffs on wine, champagne, and other alcoholic beverages from France and the European Union in response to the bloc's 50% tariff on whiskey.

Further, investors were also worried after Trump stated that his policies could cause short-term pain and did not rule out a recession amid the implementation of U.S. tariffs, sending the S&P 500 in ...