(CNBC) -- Wall Street analysts are scrambling to asses the damage in the latest fallout in the trade war between the U.S. and China.
President Donald Trump recently announced that a new 10% tariff would go into effect on $300 billion worth of Chinese goods beginning September 1.
Advertisement - story continues below
The S&P 500 is down around 2% since then and analysts fear the ratcheting up of trade tensions along with the new tariff will lead to trouble for a wide range of stocks they cover.
