And back down goes Wall Street. U.S. stocks are resuming their slide Thursday, led by the market’s AI superstars that are now feeling the painful downside of big expectations. The S&P 500 was down 1.5% in early trading,

U.S. stocks climbed after President Donald Trump pulled back on some of his tariffs, raising hopes he may avoid a worst-case trade war that grinds down economies and sends inflation higher.

As stocks traded near records despite threats from President Donald Trump’s trade policies, sticky inflation and a suddenly fragile economy, strategists theorized an invisible hand was at work: Trump’s.