The U.S. stock market fell further Tuesday following President Donald Trump’s latest escalation in his trade war, briefly pulling Wall Street 10% below its record set last month.

The pain continued for investors on Tuesday, with the Dow falling as much as 700 points after Trump threatened fresh tariffs on Canadian metal imports.

Major U.S. stock indexes sank on Monday after U.S. President Donald Trump declined to predict whether his tariff policies could lead to a recession, roiling investor sentiment. The Nasdaq Composite closed down more than 4% after confirming last week that its retreat from December's record high was a correction.