US stocks witnessed a sharp decline as trade war concerns escalated due to President Trump’s trade policies and criticism of the Federal Reserve, sending investors into a panic. The Dow Jones, Nasdaq, and S&P 500 all saw substantial drops, with the VIX index spiking, indicating increased market turbulence. In response to the uncertainty, investors turned to gold as a safe-haven investment, leading to a rise in gold prices, while the US dollar depreciated against other major currencies.