(NEW YORK) — U.S. stocks dropped slightly lower early Thursday, after a reprieve for the S&P and Nasdaq a day earlier amid President Donald Trump’s trade war.
The Dow Jones Industrial Average fell 150 points in early trading, or 0.4%, while the S&P 500 ticked down 0.25%. The tech-heavy Nasdaq declined 0.35%.
Trading opened minutes after Trump threatened a 200% tariff on champagne and other alcohol products from the European Union, escalating a global trade war that has roiled markets.
A continued back-and-forth over international tariffs is hanging over the U.S. economy, along with a looming government shutdown with a deadline on Friday.
Federal officials said Wednesday that consumer prices climbed 2.8% in February over the same year-earlier month, meaning inflation cooled more than economists expected.
After initially modest gains, the Dow Jones Industrial Average closed on Wednesday down about 0.2%, while the S&P 500 climbed 0.5%. The tech-heavy Nasdaq increased 1.2%.
This is a developing story. Please check back for updates.
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