But uncertainty around Trump's tariff policy continues to grip Wall Street, and his trade war has only intensified this week. The president has vowed to respond to tariffs planned by the EU and Canada in response to US duties on steel and aluminum imports — most notably leading off Thursday by threatening a 200% tariff on imports of EU wines and spirits.

US stocks slid, with the S&P 500 joining Nasdaq in a correction as Trump threatens 200% tax on European liquor if EU's tax on US whiskey stays.

Follow all the latest U.S. market action for Thursday as stocks resume selloff and President Trump threatens more tariffs.

Those cars can easily be made in the USA!" Labor market data on Tuesday largely met expectations, putting the focus on two key inflation reports later this week: February's Consumer Price Index (CPI) print due Wednesday and the Producer Price Index (PPI) for the same month on Thursday.

Major Wall Street indices, S&P 500 and Nasdaq, fell up to 2% on March 13 due to fears of a trade war. The S&P 500 dropped 1.39%, while Nasdaq fell 1.96%, marking significant declines from their 52-week highs.