At the close, the S&P 500 index fell 1.4 percent and has since the last peak on February 19 dropped 10 percent – which is defined as a correction.
The tech-heavy Nasdaq composite index lost 2.0 percent, while the Dow Jones industrial index ended at minus 1.3 percent.
New American inflation statistics have shown a slightly decreasing price increase rate, but US President Donald Trump's tariff threats are still being exchanged, which has caused the stock markets to fluctuate in recent days/weeks.
On Thursday, Trump threatened to impose penalty tariffs of 200 percent on wine, champagne, and other alcoholic products from the EU.
Among the day's winners was processor manufacturer Intel, whose share rose already in Wednesday's after-hours trading as a reaction to the company's new CEO, Lip-Bu Tan, being presented. The share closed at 14.6 percent.
The technology sector fared worse. Apple has had a dark week and lost 3.4 percent on Thursday. This means it has dropped over 12 percent this week.
Electric car manufacturer Tesla fell 3.0 percent, Amazon lost 2.5 percent, and Meta, which owns, among other things, Facebook and Instagram, fell 4.7 percent.
