News Story

Stocks sank on Wall Street after President Donald Trump threatened to hit eight European countries with new tariffs as tensions escalate over his attempts to assert American control over Greenland.

The S&P 500 fell 2.1% Tuesday, its biggest drop since October. Technology stocks were the biggest weights. The Dow Jones Industrial Average dropped 1.8%. The Nasdaq composite slumped 2.4%.

Trump said Saturday that he would charge a 10% import tax starting in February on goods from the eight European nations.

Long-term Treasury yields rose in the bond market.

On Tuesday:

The S&P 500 fell 143.15 points, or 2.1%, to 6,796.86.

The Dow Jones Industrial Average fell 870.74 points, or 1.8%, to 48,488.59.

The Nasdaq composite fell 561.07 points, or 2.4%, to 22,954.32.

The Russell 2000 index of smaller companies fell 32.38 points, or 1.2%, to 2,645.36.

For the year:

The S&P 500 is down 48.64 points, or 0.7%.

The Dow is up 425.30 points, or 0.9%.

The Nasdaq is down 287.67 points, or 1.2%.

The Russell 2000 is up 163.45 points, or 6.6%.