NEW YORK — Stocks slumped on Wall Street Tuesday after President Donald Trump threatened to hit eight European countries with new tariffs as tensions escalate over his attempts to assert American control over Greenland.

The losses were widespread, with nearly every sector losing ground. Major indexes in the U.S. extended losses from last week in what has been a wobbly start to the year.

The S&P 500 fell 143.15 points, or 2.1%, to 6,796.86. It is the steepest drop for the benchmark index since October.

The Dow Jones Industrial Average fell 870.74 points, or 1.8%, to 48,488.59. The Nasdaq composite fell 561.07 points, or 2.4%, to 22,954.32.

Technology stocks were the heaviest weights on the market. Nvidia, one of the most valuable companies in the world, plunged 4.4%. Apple fell 3.5%.

Retailers, banks and industrial companies also fell sharply. Lowe’s fell 3.3%, JPMorgan Chase fell 3.1%, and Caterpillar lost 2.5%.

European markets and markets in Asia fell. Long-term bond yields in Japan rose to record levels on concerns over the government’s fiscal policy, adding to anxiety in global markets.

Trump’s trade policy has roiled markets since the start of his second term. Stocks have sold off on the threat of steep tariffs, then rallied when Trump delays or cancels a tariff, or negotiates a lower rate.

Trump said Saturday that he would charge a 10% import tax starting in February on goods from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland.