All three major U.S. markets sank before regaining lost ground on fears a trade war will hobble the world’s largest economy and boost inflation.

Stocks racked up more losses on Wall Street Tuesday as a trade war between the U.S. and its key trading partners escalated, wiping out all the gains since Election Day for the S&P 500. The S&P 500 shed 72 points,

Stocks are falling again on Wall Street as companies and investors react to President Trump’s decision to impose tariffs.