Dow, S&P 500, Nasdaq slide as tariff-pause euphoria gets a reality check

US stocks sank on Thursday, pulling back from the previous day's historic rally amid concerns that President Trump's broad trade offensive has become a direct confrontation with China.

The S&P 500 (GSPC) dropped over 2.8%, while the tech-heavy Nasdaq Composite (IXIC) tumbled 3.5%. The Dow Jones Industrial Average (^DJI) fell nearly 1,000 points, or 2.2%. The 10-year Treasury yield, (^TNX) in high focus amid bond market whiplash, fell to around 4.35%.