Stocks pummeled as Nasdaq sinks 4%, Dow drops 1,000 points as new China tariffs loom over markets

Stocks fell sharply on Thursday as tariff headlines weighed on markets after a strong day prior, with the S&P 500 dropping 3.5% and the Nasdaq Composite tumbling 4.3%. The Dow Jones Industrial Average fell 1,014 points, while the 10-year Treasury yield remained flat. The White House confirmed total tariffs on China will be 145%, surprising investors and leading to market uncertainty amid ongoing trade tensions.

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