A day after recording its best gain since 2008, the S&P 500 fell 3.5 percent on Thursday, showing that fears about tariffs hampering economic growth were still alive.

The S&P 500 slid, as trade hostilities continued to heat up between Washington and Beijing. Earlier, stocks in Europe and Asia soared.

The S&P 500 slipped, as trade hostilities continued to heat up between Washington and Beijing. Stocks in Europe and Asia had soared earlier, after President Trump paused some tariffs.