April 4 (Reuters) – Wall Street nosedived for a second straight day on Friday, confirming the Nasdaq Composite was in a bear market and the Dow Jones Industrial Average was in a correction, as an escalating global trade war spurred the biggest losses since the pandemic.

The Dow Jones Industrial Average (.DJI), opens new tab, S&P 500 (.SPX), opens new tab and the Nasdaq Composite (.IXIC), opens new tab posted their largest two-day declines since the emerging coronavirus caused global panic during U.S. President Donald Trump’s first term. For Thursday and Friday, the Dow was down 9.3%, the S&P 500 10.5% and the Nasdaq 11.4%.