In the midst of the latest Trump tariff threats, the S&P 500 moves to a correction territory just three weeks after it has recorded record maximums

• S & P 500 On Thursday, he entered the correction three weeks after he achieved record maximums after Trump’s 200% of tariff threats of European wine and champagne. While the inflation cooled in February, the news was not enough to save S&P from a fall 10%.

The most popular index fell on Thursday, due to concern about the latest tariff threats, President Donald Trump, the latest information on inflation and materializing the government.

The S&P 500 fell 1.4% on Thursday, more than 10% below the high index that reached only three weeks ago, leaving the correction territory. Wall Street believes that the market correction as an index has fallen more than 10% from the recent top.

In addition, technologically focused Nasdaq Compositely, it has slid almost 2% and has already been on a correction territory since last week. AND To redeem Jones Industrial Average has dropped nearly 550 points, which is 1.3%.

“I think markets tell us that they are very concerned about the potential for the recession,” said the main strategist of the global market invesco Kristina Hooper New York Times. “This is certainly not what markets expect to go to 2025.”

The latest inflation data suggest that prices cooled after the consumer prices index has increased seasonally adapted 0.2% for February, holding inflation to 2.8%, according to Ministry of Labor.

Cooling prices are not a reason for the celebration, because Trump’s latest tariff threats bring inflation care to Wall Street.

Starting on Thursday, Trump warned about 200% of tariffs of European wine, champagne and other ghosts in retaliation from the Tit-for-for the announcement of the European Union that the block would charge duties of 50% on American whiskey and bourbon. EU tariffs were retaliating for Trump’s worldwide tariff of 25% steel and aluminum.

“In just a few weeks, the wider market has exceeded the record maximum to the territory for correction,” said the main technical strategist from LPL Financial Adam Turnquist in the note received by CNN. “The uncertainty of the tariff has captured most of the guilt for sales pressure and worse’s worries about economic growth.”

The prefabricated fear of the exclusion of the Government is added to the skepticism of the investor. Senate Democrats want to block an account for Republican consumption to stop and ask the GOP to accept the blue plan for supplying funds by April 11.

While Wall Street is hoping for the stability of the market, it seems that tariff troubles will remain while Trump told reporters that he would not consider Canada for tariff amnesty.

“I’m sorry, we have to do that,” he said.

This story is originally displayed on Fortune.com