Widely followed strategist Ed Yardeni, one of the biggest bulls on Wall Street, lowered his market forecast, saying President Donald Trump’s tariffs raise the risk of stagflation.“It has dawned on Wall Street (and us!

NEW YORK (AP) — Wall Street’s sell-off hit a new low Thursday after President Donald Trump’s escalating trade war dragged the S&P 500 more than 10% below its record, which was set just last month.

A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s slide on Thursday sent the index to its first since 2023.