The S&P 500 retreated on Monday, extending February’s rout and turning red for the year after President Donald Trump’s confirmation of forthcoming tariffs ratcheted up economic concerns.
The S&P 500 fell 2.1%, bringing its year-to-date performance to a loss of nearly 1%. The Dow Jones Industrial Average dropped 789 points, or 1.8%. The Nasdaq Composite slid 3%, weighed down by Nvidia’s decline of more than 9%.
All three indexes traded higher earlier in the session, with the Dow at one point up nearly 200 points. Stocks took a notable leg down in afternoon trading following Trump’s reiteration that 25% levies on imports from Mexico and Canada would go into effect on Tuesday, dashing investors’ hopes of a last-minute deal to avert the full tariffs on the two U.S. allies.
He had that two weeks plan though… That was in 2016…any day now
Don’t forget infrastructure week. Surely this will be the week?
This time around he promised nothing outside of tariffs, and outsourced everything to Elon. And Elon is 100% there to dismantle, they don’t plan to fix or add/contribute anything.
It’s amazing the destruction they have caused already and Donnie hasn’t had to do anything but write his name in sharpie over and over.