Wall Street Posts Biggest Daily Drop in Three Months as Tariff Threat Triggers Selloff

**MARKET UPDATE: Tariff Fears Spark Selloff** Major Wall Street indexes recorded their steepest one-day decline in **3 months**. The sharp reversal was catalyzed by President Trump’s renewed threats to impose tariffs on European goods, sparking concerns over deteriorating trans-Atlantic trade relations. *** Defensive assets rallied on the news. Gold surged to **record highs**, benefiting from a strong "risk-off" rotation as capital fled volatile equities. U.S. Treasuries also faced increased buying pressure, reflecting the flight to safety. *** Risk assets reacted negatively across the board. Bitcoin declined in tandem with the broader stock market, while volatility metrics spiked. The abrupt return of trade policy uncertainty has reintroduced significant caution into the market outlook.