US stock market tumbles again as Trump threatens tariffs on wine

A trader works on the floor of the New York Stock Exchange in New York City, the Untied States, on March 11, 2025 [Richard Drew/AP Photo]

The United States’ stock market has taken another tumble following US President Donald Trump’s threat to impose steep tariffs on wine and other alcoholic products from the European Union.

The benchmark S&P 500 fell 1.39 percent on Thursday, dragging the index into a correction – Wall Street lingo for a decline of 10 percent or more from the peak.