Stocks of the biggest banks and private-equity firms plunged Thursday as concerns mounted about how Wall Street giants and their customers might be affected by heightened odds of a US recession.

Stock markets on Thursday were severely rattled by President Donald Trump’s historic tariff announcement, which threatens to plunge the US and global economies into a

U.S. stocks whipped through another dizzying day of trading, but the mood on Wall Street turned sour after President Donald Trump unveiled sweeping new tariffs against nearly all U.S. trading partners,