Stocks plunge again as Trump tariffs continue to reverberate through markets
U.S. stocks sank Monday as the financial turmoil that began last week following President Donald Trump's shock tariffs announcement continue to rip through markets.
U.S. stocks sank Monday as the financial turmoil that began last week following President Donald Trump's shock tariffs announcement continue to rip through markets.
The S&P 500 opened down 4%, entering "bear market" territory as it officially fell to below 20% from its most recent high. The tech-heavy Nasdaq declined more than 4.5%. The Dow Jones Industrial Average lost 3.78% or 1,200 points.
The hammer blow of President Donald Trump's tariffs reverberated around the world overnight across the major indexes in Europe and Asia, where markets opened to a bloodbath and automatic circuit breakers triggered in some places to stop stocks crashing.
Chinese stock market movements on a screen in Beijing on Monday.Wang Zhao / AFP - Getty ImagesEven the price of bitcoin, which showed signs Friday of having resisted the wider market downturn, fell as much as 1.2%. Over the weekend, it fell more than 7%.
The main U.S. benchmark for crude oil fell to its lowest price since April 2021, before slightly bouncing back and wavering at around $63 a barrel.
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