Wall Street, already on edge over the next tariff announcements from President Donald Trump, turned lower early Thursday ahead of the latest data on inflation and layoffs.

The U.S. stock market is sinking further Thursday after President Donald Trump raised the stakes in his trade war, pulling Wall Street more than 9% below its record set just a month ago. The S&P 500 was down 1.

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.

Lip-Bu Tan is seen as a “transformative” leader who will move to cut costs. But both halves of Intel’s business both require major fixes.

Intel shares powered higher in early Thursday trading after the struggling chipmaker named industry veteran and former board member Lip-Bu Tan as its new CEO, sparking a fresh round of speculation on its plans to split into two separate companies.

Intel named Lip-Bu Tan as its new chief executive, selecting a former board member and longtime industry executive to help turn itself around. Shares jumped more than 10% in premarket trading. Read mo

Over the last year, while President Joe Biden was in office, Trump took credit for stock market rallies as a vote of confidence in his electoral prospects. When the market dipped, he blamed Biden and Vice President Kamala Harris. And he predicted that if Democrats won the 2024 presidential election, the stock market would have crashed.

President Donald Trump indicated that he's optimistic when asked about the current state of the economy on Tuesday after previously sidestepping questions about fears of a potential recession. Reacting to the growing fears of a tariff war,

President Donald Trump in recent days has dismissed fears of a recession and brushed aside the stock market sell-off.

After a day of big sell-offs in yesterday's market rout, Tesla (NASDAQ: TSLA) stock is seeing some rebound momentum in Tuesday's trading. The company's share price was up 5% as of 2:30 p.m. ET. Meanwhile,

Key Takeaways Tesla shares climbed Tuesday, after losing more than 15% of their value a day earlier.The stock is on pace to fall for an eighth consecutive week, overlapping with CEO Elon Musk's time working in the Trump administration.