The U.S. stock market is still swinging Thursday, even after getting a double-shot of encouraging news on the economy. President Donald Trump keeps upping the stakes in his trade war, with his most recent threat to tax wines and other alcohol coming from Europe.

US corporate bonds issued by riskier borrowers are sliding as concerns rise that President Donald Trump’s tariffs will knock the American economy. The spread — or additional borrowing cost relative to US Treasuries — paid by junk-rated US companies has jumped by 0.

President Donald Trump's impact on the U.S. economy is under scrutiny as fears of a potential recession grow, particularly as tariffs are implemented on Mexico, Canada and China. Trump was pressed about recession speculation on Sunday and said that he "hates to predict things like that" and said the country is in a transition period.