Trade War With Canada and China Escalates, Stocks Plunge
Stocks plunged Monday to a six-month low amid ongoing uncertainty about the impact of policies coming from the Trump White House and concerns about the outlook for the U.S. economy.
The tech-heavy Nasdaq Composite dropped 4%, its biggest one-day loss since September 2022, while the S&P 500 shed 2.7%, as both indexes closed at their lowest levels since last September. The Dow Jones Industrial Average fell 2.1%, equivalent to a near-900 point decline. Stocks were coming off of gains on Friday, though they still posted steep losses for the week.
Major indexes have returned to pre-election levels as investor sentiment has been dented recently by worries about President Trump’s plans for widespread tariffs and the retaliatory measures that other countries have announced. Experts say the tariffs will spark inflation, slow economic activity and harm companies that do business around the world.
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