Stocks pare losses as nervous investors brace for Trump's 'Liberation Day' tariffs
Markets whip-sawed in Monday morning as opportunistic investors helped major indexes shrug off earlier losses ahead of President Donald Trump "Liberation Day" tariffs announcement Wednesday.
Markets whip-sawed in Monday morning as opportunistic investors helped major indexes shrug off earlier losses ahead of President Donald Trump "Liberation Day" tariffs announcement Wednesday.
The broad S&P 500 had narrowed its decline by nearly half as of 11 a.m., trading down about 0.7% after declining as much as 1.3% earlier. The Dow Jones Industrial Average, which represents a more narrow band of established U.S. firms, erased opening declines to settle flat. The tech-focused Nasdaq was still down as much as 2%.
Firms included in the Dow seeing the biggest gains included biotech group Amgen, IBM, Coca-Cola, Walmart, and Verizon. The biggest laggards were Nvidia, Amazon, Microsoft, Salesforce and Boeing.
Weekend reports suggested that while Trump was still making up his mind about what form his long-promised rollout of global trade duties would take, he was now leaning toward a heavily punitive regime targeting most U.S. trading partners.
Later Sunday, Trump himself confirmed in remarks aboard Air Force One that the tariffs would "start with all countries."
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