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U.S. stocks slid Wednesday as the White House readied new tariffs. The S&P 500 fell 64.45 points, 1.1%, to close at 5,712.20, while the blue-chip Dow gave back 132.71 points, 0.3%, to hit 42,454.79.

“Looking at the PMI (Purchasing Managers’ Index) data that we’ve seen this morning, a little bit mixed and so that’s not really going to alter the overall tone of the market still concentrating on ...