India, March 13 -- After moving mostly lower early in the session, stocks have seen further downside over the course of the trading day on Thursday. With the steep drop, the S&P 500 has entered into contraction territory, plunging by more than 10 percent from its record highs in February.
In recent trading, the major averages have continued to fall to new lows for the session. The Nasdaq is down 382.47 points or 2.2 percent at 17,265.98, the S&P 500 is down 83.12 points or 1.5 percent at 5,516.18 and the Dow is down 553.40 points or 1.3 percent at 40,797.53.
The sell-off on Wall Street comes amid ongoing concerns about President Donald Trump's trade policies after he suggested the U.S. would respond to the European Union's countermeasures...