On-again, off-again tariffs, mass government layoffs, funding cuts and immigration crackdowns have seriously spooked Wall Street, which is emphatically rejecting President Donald Trump’s chaotic economic agenda.

They thought his second term would be like the first, giving priority to economic growth and the stock market. Trump had other ideas.

A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s 1.4% slide on Thursday sent the index to its first si