The S&P 500 fell 3.5 percent by the closing bell, erasing part of Wednesday’s recovery, as fears grew the worsening trade war with China will crimp growth.

US stocks were volatile Wednesday after China announced significant retaliation and the European Union announced countermeasures against President Donald Trump’s enormous “reciprocal” tariffs that went into effect earlier in the day,

Stocks staged an enormous rally after Trump announced a tariff pause. The Nasdaq soared 12% for its best day since 2001. The Dow rose 3,000 points.

Wall Street stocks tumbled on Thursday on mounting worries over the economic impact of U.S. President Donald Trump's multi-front tariff war.

The Dow industrials and S&P 500 give back some gains from Wednesday’s historic rally.

Just one week after upending global trade with his sweeping tariffs, President Donald Trump hit the brakes, citing growing concern on Wall Street.

President Donald Trump said Wednesday he will pause reciprocal tariffs for 90 days to more than 75 U.S. trading partners except for China, whose tariff rate he said will increase to 125%, effective immediately.

Wall Street’s latest moves came after Trump’s latest round of tariffs kicked in after midnight for imports from around the world.

Donald Trump rattled global investors again on Tuesday as he pressed ahead with his plan for aggressive tariffs on America’s largest trading partners even as he touted potential deals with some US allies.

Trump accused of ‘market manipulation’ after abrupt U-turn on reciprocal tariffs: Live updates - President’s 90-day pause sends markets soaring as White House attempts to spin climbdown as latest bril

In a dramatic move Wednesday, Trump authorized a 90-day pause in the higher tariffs for most countries he announced last week while maintaining a 10% universal tariff.

Wall Street gave up an early rally and went negative. The S&P 500 fell 1.6% after wiping out an early gain of 4.1%, which had it on track for its best day in years. That brought the index nearly 19% below its record set in February.

From the daily newsletter: how turbulence in the bond market likely inspired the Administration’s change of course.

President Donald Trump has ordered a 90-day pause on most new tariffs, with the exception of China. NBC News' Christine Romans and Rep. Josh Gottenheimer (D-NJ) join Chris Jansing to discuss the market reaction and the turmoil from the trade war.

Trump touted his sweeping tariffs as decades in the making, saying he's been talking about trade imbalances for "35 years" and that "nobody but me would do this."

Following one day of respite, the U.S. stock market returned to its downward spiral Thursday amid ongoing concerns tied to President Trump's tariffs.

Even after Trump's U-turn on Wednesday that paused steep new tariffs on about 60 nations for 90 days, average U.S. duties remain much higher than a couple of months ago. Trump has imposed a 10% tariff on all imports,

President Donald Trump conceded today that there may be “transition problems” with his trade policies, but said his team is “working on deals” with multiple countries and expressed optimism that the US and China will reach a deal.