Stocks dive after Trump promises tariffs on steel

NEW YORK (AP) — U.S. stocks dove in another dizzying day of trading after President Donald Trump promised stiff tariffs on imported steel and aluminum. The move raised the threat of escalating retaliation by other countries and higher inflation. The Standard & Poor’s 500 index erased nearly all of its gains for the year.

Indexes had been bouncing between modest gains and losses earlier in the day,...