President Donald Trump’s imposition of tariffs has caused a significant shift in the financial markets, resulting in a volatile day for Wall Street.
On Monday, the S&P 500 experienced a decrease of 0.8%, trailing behind sharper declines seen across Asian and European markets.
Meanwhile, the Dow Jones Industrial Average declined by 0.3%, and the Nasdaq composite dropped by 1.2%.
Initially, U.S. stocks were heading towards remarkably worse losses amid concerns regarding the potential impact of the newly announced tariffs targeting imports from countries such as Canada, Mexico, and China.
At one point, the S&P 500 was nearly down by 2%, with the Dow suffering a decline of 665 points.
However, the markets began to recover partially after the President of Mexico announced that her country had secured a one-month delay concerning the tariffs.
On Monday, the specific numbers reflected: the S&P 500 fell by 45.96 points, equating to a 0.8% drop, settling at 5,994.57.
Likewise, the Dow Jones Industrial Average slipped 122.75 points, which is also a 0.3% decline, reaching 44,421.91.
The Nasdaq composite faced a loss of 235.49 points, or 1.2%, ending the day at 19,391.96.
Additionally, the Russell 2000 index, which represents smaller companies, dropped by 29.28 points, or 1.3%, to close at 2,258.42.
Looking at the year-to-date performance, the figures are as follows: The S&P 500 has increased by 112.94 points, representing a gain of 1.9%.
The Dow has risen by 1,877.69 points, marking a 4.4% increase.
The Nasdaq has seen a more modest increase of 81.16 points, or 0.4%, while the Russell 2000 has climbed by 28.26 points, reflecting a 1.3% rise.