Stocks slide deeper into the red after Fed chair’s ‘stagflation’ warning reignites tariff fears

• A poor day for stocks ended worse as tariff fears reentered the conversation, with major indexes sliding as tech companies report the first impacts from the U.S.' trade war with China.

Stock markets started the day poorly and ended it worse as chipmakers reported revenue impacts from the China trade war and a hawkish speech from Federal Reserve Chair Jerome Powell reignited fears of tariffs' stagflationary effects.

The S&P 500 lost 2.2%, led by a selloff in tech.