US stocks veer lower in latest bout of market volatility

The S&P 500 was down 0.4 per cent, as of 1:56 pm Eastern time. It has swung between a 0.6 per cent high and 0.5 per cent loss. A day earlier, it plunged 2.9 per cent.

Those concerns helped drive the yield on the 10-year Treasury down to 1.50 per cent Thursday from 1.58 per cent late Wednesday. That yield has been steadily dropping since late last year, when it was above 3 per cent. "The countdown to a recession has just started," Hussein Sayed, Chief Market Strategist at FXTM, said.

The trade war isn't the only worry for investors. The United Kingdom's pending exit from the European Union, political unrest in Hong Kong and a totally separate trade war between South Korea and Japan are all adding to the gloom.

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