And then there was the CNN report that President-elect Donald Trump might declare a "national economic emergency" to allow for import tariffs. An emergency declaration would allow him to tax imports with a relatively free hand. That news spooked investors, who were already on the lookout for unexpected economic turns as Inauguration Day approaches.

U.S. President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday,