03/04/2025

As Trump Says Tariffs Will Proceed, the Dow Tumbles More than 600 Points

Meanwhile, the S&P 500 posted its biggest loss since December

On Monday, the S&P 500 retreated, extending February’s rout and turning red for the year after President Donald Trump's confirmation of forthcoming tariffs.

The broad index fell 1.76 percent to end at 5,849.72, marking its worst day since December and bringing its year-to-date performance to a loss of about 0.5 percent. The Dow Jones Industrial Average dropped 649.67 points, or 1.48 percent, to finish at 43,191.24. Meanwhile, the Nasdaq Composite slid 2.64 percent to close at 18,350.19, weighed down by Nvidia's decline of more than 8 percent.

Stocks took a notable leg down in afternoon trading following Trump's reiteration that 25 percent levies on imports from Mexico and Canada would go into effect on March 4, dashing investors' hopes of a last-minute deal to avert the full tariffs on the two U.S. allies. All three indexes traded in positive territory earlier in the day, with the Dow rising nearly 200 points at session highs.

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