New York, April 10: US stocks are giving back much of their historic gains from the day before as Wall Street weighs a trade war that has cooled in temperature but is still threatening the economy. The S&P 500 fell 5 per cent Thursday. Tariff War: US President Donald Trump Raises Tariffs on China to 145%, White House Says.

The Dow Jones Industrial Average dropped 1,746 points, and the Nasdaq composite sank 5.8 per cent. Even a better-than-expected report on inflation wasn't enough to get US stocks to climb further. China-US Tariff War: Beijing Issues Travel Warning for Citizens Heading to United States Amid Strained Economic and Trade Relations.

Losses for stocks accelerated after the White House clarified that Chinese imports will be tariffed at 145 per cent, not the 125 per cent rate that US President Donald Trump had earlier written about.

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