But uncertainty around Trump's tariff policy continues to grip Wall Street, and his trade war has only intensified this week. The president has vowed to respond to tariffs planned by the EU and Canada in response to US duties on steel and aluminum imports — most notably leading off Thursday by threatening a 200% tariff on imports of EU wines and spirits.

US stocks plunged, bitcoin stumbled and Wall Street’s fear gauge hit its highest level this year as concerns about President Donald Trump’s economic policy led to a widespread market selloff on Monday.