NEW YORK (AP) — Wall Street’s sell-off hit a new low Thursday after President Donald Trump’s escalating trade war dragged the S&P 500 more than 10% below its record, which was set just last month.

In a few short weeks, President Donald Trump has started silencing the buy-the-dip stock traders who set the tone on Wall Street for the better part of two decades.

Wall Street's main indexes were on track to open lower on Thursday after President Donald Trump upped his tariff rhetoric against the European Union, while investors found some reprieve from signs of cooling inflation.