India, May 23 -- After moving sharply lower early in the session, stocks have regained some ground over the course of the trading day on Friday. The major averages have climbed well off their worst levels of the day but remain firmly in negative territory.
Currently, the Nasdaq is down 219.20 points or 1.2 percent at 18,706.54, the S&P 500 is down 59.40 points or 1.0 percent at 5,782.61 and the Dow is down 361.62 points or 0.9 percent at 41,497.47.
The initial slump on Wall Street came after President Donald Trump threatened to impose 50 percent tariffs on imports from the European Union beginning June 1st.
Trump claimed in a post on Truth Social that the EU has "been very difficult to deal with" and said trade talks with the bloc are "g...