Wall Street stocks sank and gold hit a fresh record high on Thursday as Donald Trump’s tariffs and investor doubts about a potential ceasefire between Russia and Ukraine weighed on risky assets. The blue-chip S&P 500 fell 1.

The S&P 500 officially joined the Nasdaq Composite in correction territory on Thursday by cementing a close at least 10% below its prior peak level. Stocks remain under pressure as President Trump kept up his freewheeling style on negotiating with major U.

The S&P 500 (SP500) has again pushed into correction territory, with Wall Street on Thursday watching if it will finish 10% below its high -and if the retreat turns into something bigger. Corrections of 10% have totaled 48 since World War II for the benchmark (SP500),

The S&P 500 dipped into correction territory in afternoon trade Thursday, as stocks traded sharply lower on continued trade tensions. The large-cap benchmark was down 66 points, or 1.2%, at 5,534, after trading as low as 5,

S&P 500 futures are rising after the index fell into correction territory. The Dow and Nasdaq are also rising in premarket trading Friday as the stock market braces for more fallout from Trump's tariffs.