US stocks: Citigroup tanks 7.4%, JPMorgan Chase down 4.8%, auto shares dip over 3%

Wall Street stocks slumped on Tuesday as worries of a global trade war deepened. Investors grew increasingly nervous about how US trade tariffs will erode economic growth. At 11:47 a.m. ET, the Dow Jones Industrial Average fell 698.44 points, or 1.62%, to 42,492.80, the S&P 500 lost 88.03 points, or 1.50%, to 5,761.69 and the Nasdaq Composite lost 210.73 points, or 1.15%, to 18,139.46. At 09:38 am ET, the Dow Jones Industrial Average fell 394.50 points, or 0.91%, to 42,796.74, the S&P 500 lost 40.78 points, or 0.70%, to 5,808.94 and the Nasdaq Composite lost 86.90 points, or 0.47%, to…