Stocks are in correction. Is a bear market next?

President Donald Trump’s tariff-driven trade wars are taking a toll on stocks. The S&P has fallen more than 10% from its recent high, into what is known as “correction” territory. Is a bear market next?

Corrections are “relatively rare yet symbolically worrisome milestones for the markets,” said The New York Times. The S&P isn’t the only index taking a beating: Nasdaq and the Russell 2000 have also fallen into correction territory. The turmoil is a “reflection of the uncertainty surrounding Trump’s policies” and worries that consumers and businesses are pulling back, “driving the economy into a downturn.” That is a surprising turn for a president who once “continually took credit for a booming stock market,” said the Times.