Morning Bid U.S. What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Financial Industry and Financial Markets Wall St's withering stock selloff has now wiped out virtually all post-election gains and risks turning into a momentum-driven rout unless there's some change in the darkening economic picture or the uncertain U.

In today's big story, Wall Street assumed that the stock market would act as a check on Donald Trump's new administration. That isn't panning out. What's on deck Markets: February was a bad month for big-name hedge funds.

The U.S. stock market is sinking further Thursday after President Donald Trump raised the stakes in his trade war, pulling Wall Street more than 9% below its record set just a month ago. The S&P 500 was down 1.