The downturn in the U.S. stock market has deepened as investor concerns rise over the economic impact of tariffs. There are escalating worries about the extent to which President Donald Trump might be willing to let economic tensions escalate to achieve his trade objectives. On Monday, key market indices plummeted significantly.
The S&P 500 suffered a 2.7% drop, reflecting the growing unease among investors. This decline was mirrored by a 2.1% fall in the Dow Jones Industrial Average and a sharp 4% decrease in the Nasdaq composite. Technology stocks, including Elon Musk’s Tesla, were among those hit hardest, alongside airlines and various businesses reliant on consumer confidence.
Bitcoin, too, experienced a substantial drop, falling below $79,000 after having surged past $100,000 just last December. This reflects the wider uncertainty in financial markets.
In terms of specific numbers, the S&P 500 fell by 155.64 points to close at 5,614.56. The Dow Jones Industrial Average dropped by 890.01 points, settling at 41,911.71, while the Nasdaq composite decreased by 727.90 points, closing at 17,468.32. Additionally, the Russell 2000 index, which tracks smaller companies, fell by 56.42 points to end at 2,019.07.
Considering the broader scope of the year-to-date figures, the S&P 500 has decreased by 267.07 points, marking a 4.5% decline. The Dow Jones shows a drop of 632.51 points or 1.5%. The Nasdaq has faced a more severe decline of 1,842.47 points, translating into a 9.5% decrease. Similarly, the Russell 2000 is down by 211.09 points, equalling a 9.5% drop over the course of the year.
The losses paint a troubling picture of investor sentiment, as fears about trade conflicts and their ramifications on consumer confidence and the broader economy continue to weigh heavily on the markets.
