Stocks plunge after Trump takes his trade war with China to a new level

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President Trump said he planned to impose an additional 10% tariff on $300 billion worth of Chinese exports in a tweet on Thursday.

US stocks erased big gains on Thursday after President Trump announced a fresh round of tariffs on Chinese exports. The president wrote in a tweet that the US will impose an additional 10% tariff on $300 billion worth of Chinese goods. The benchmark S&P 500 was up as much as 1.1% before Trump's tweet caused a sharp sell-off, pushing the index down more than 1% at intraday lows. Visit the Markets Insider for more stories.

US stocks erased big gains on Thursday after President Trump announced a fresh round of tariffs on Chinese exports. The president wrote in a tweet that the US will impose an additional 10% tariff on $300 billion worth of Chinese goods. The benchmark S&P 500 was up as much as 1.1% before Trump's tweet caused a sharp sell-off, pushing the index down more than 1% at intraday lows. Visit the Markets Insider for more stories.

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