Wall Street Has ‘White Knuckle Moment’ After Tariff Threat Sends Markets Reeling

Investors are taking a harder look at some of the market’s hottest investments than at any time since “Liberation Day.” 

Friday’s market slide—fueled by President Trump’s new threat of “massive” tariffs on goods from China—wasn’t huge by historical standards. But its breadth and its focus on red-hot tech shares and smaller banks rattled some analysts and portfolio managers, who had come to believe that the 2025 market advance had grown immune to trade-war tensions.