Second, the U.S. stock market recovered remarkably quickly from the tariffs imposed during the first Trump administration. Specifically, while the S&P 500 declined 19.8% over a three-month period between September and December 2018, the index had already recouped its losses and reached a new high by May 2019.

Another day, another tariff-driven selloff on Wall Street. The large-cap S&P 500 index was falling 1% to trade at 5,542.16 as of 2:58 p.m. Eastern time on Thursday. A correction for the S&P 500, typically defined as a 10% decline from its recent peak,

The past few weeks have been tough for investors. All three major benchmarks have dropped, temporarily halting what looked like unstoppable momentum.