India, April 3 -- After recovering from an early slump to end Wednesday's session mostly higher, stocks plummeted at the start of trading on Thursday and remain sharply lower. With the steep drop, the S&P 500 has plunged to its lowest intraday level in almost seven months.
The major averages have seen further downside in recent trading, hitting new lows for the session. The Nasdaq is down 995.06 points or 5.7 percent at 16,605.98, the S&P 500 is down 246.70 points or 4.4 percent at 5,424.27 and the Dow is down 1,555.91 points or 3.7 percent at 40,669.41.
The sell-off on Wall Street comes after President Donald Trump delivered a highly anticipated speech on Wednesday outlining his plan to impose sweeping tariffs on U.S. trade partners.
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