Markets took a sharp downward turn on Wall Street after U.S. government data Wednesday showed that inflation accelerated last month. Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq all fell at least 1% less than an hour before the opening bell.

The Standard & Poor’s 500 climbed 0.7%, coming off a losing week that was bookended by worries about how potential tariffs could push up inflation and threaten the economy. The Dow Jones industrial average added 167 points, or 0.4%, and the Nasdaq composite rallied 1% as Nvidia and other Big Tech stocks led the way.

The editorial board of The Wall Street Journal is warning President Trump is making similar mistakes on trade to those during his first term in the White House. Noting Trump’s orders