S&P 500 ends down after wild session as Trump digs in on tariffs
The S&P 500 closed lower on Monday after a roller coaster session, with investors worried about an economic slowdown and rising inflation as U.S. President Donald Trump dug in his heels on tariffs, warning he could further increase levies on China.
Wall Street equities have been hammered since Trump’s sweeping tariffs, announced late Wednesday, on all imports into the U.S. and much higher levies on some major trading partners.
Early on Monday, all three major U.S. indexes touched their lowest levels in more than a year, and the CBOE Volatility index, Wall Street’s fear gauge, breached 60 points, hitting its highest level since August 2024.
According to preliminary data, the S&P 500 lost 14.22 points, or 0.28%, to end at 5,059.86 points, while the Nasdaq Composite gained 14.66 points, or 0.09%, to 15,602.44. The Dow Jones Industrial Average fell 356.67 points, or 0.93%, to 37,958.19.
In the two days following Trump’s tariff announcements last week, the benchmark S&P 500 index dived 10.5% and lost about $5 trillion in market value. It was the biggest two-day loss since March 2020.
On Friday, the blue-chip Dow confirmed it was in a correction, or more than 10% below its December record close while the Nasdaq confirmed it was in a bear market.
Source : Reuters
