U.S. markets suffered deeper losses Thursday, following on a global rout as investors lost their nerve over rising U.S. interest rates and fresh worries about an economic slowdown.
Concerns about U.S.-China ties weighed heavily, too. U.S. markets rebounded briefly after it was announced that President Trump would meet with Chinese leader Xi Jinping at next month’s Group of 20 summit in Buenos Aires to discuss the intensifying trade conflict.
The Dow Jones industrial average ended the day down 2.1 percent, or 546 points, at 25,052. That pushed the two-day loss to nearly 1,400 points.
The Standard & Poor’s 500-stock index was off 2 percent, at 2,728. The tech-heavy Nasdaq notched its second day of trouble with a 1.3 percent loss, landing at 7,329.
The markets landed in the red despite a government report that showed consumer prices rose 0.1 percent last month, less than expected.