Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a trade war abroad — all while on-again, off-again new levies continue to escalate uncertainty.

US stocks slid Thursday and the S&P 500 closed in correction, down more than 10% from its record high in February, as President Donald Trump threatened new tariffs on the European Union.

Worsening relations with three of the United States’ biggest trading partners dominated a Senate hearing for the would-be U.S. ambassadors to Canada, Mexico and Japan.

European wine, Kentucky bourbon, French Champagne, and other alcoholic beverages could be subject to tariffs if EU and US tariffs materialize.

A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s 1.4% slide on Thursday sent the index to its first si

President Trump is threatening a 200% tariff on European wine, champagne and spirits if the European Union goes forward with their tariff threats on American whiskey.