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.
Right, but it’s also not an indicator of anything yet.
Yeah, but tarrifs are one of dozens if not hundreds of things that are going to be hurting the economy.
Youve already got tens of thousands of federal workers now unemployed, likely disruptions to Medicaid/snap/social security, tarrifs (and likely trade consequences of tarrifs), low consumer confidence, and it hasn’t even been two months.
If anyone thinks this is going to be a good year for the markets, I’d love to know why. The only reason they might stay high is due to corporate benefits from the admin as the regular people suffer.