Sell-off comes amid anger from Democrats over retreat that rattled markets, while Republicans praise Trump’s ‘art of the deal’ in action

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US stocks fell again on Thursday after a historic rally following Donald Trump’s shock retreat on Wednesday on the hefty tariffs he had just imposed on dozens of countries.

The falls came as the president blamed “transition problems” for the market reaction and the sell-off deepened after a White House clarification noted that total tariffs on China had been raised by 145% since Trump took office.