The S&P 500 retreated on Monday, extending February’s rout and turning red for the year after President Donald Trump’s confirmation of forthcoming tariffs ratcheted up economic concerns.
The S&P 500 fell 2.1%, bringing its year-to-date performance to a loss of nearly 1%. The Dow Jones Industrial Average dropped 789 points, or 1.8%. The Nasdaq Composite slid 3%, weighed down by Nvidia’s decline of more than 9%.
All three indexes traded higher earlier in the session, with the Dow at one point up nearly 200 points. Stocks took a notable leg down in afternoon trading following Trump’s reiteration that 25% levies on imports from Mexico and Canada would go into effect on Tuesday, dashing investors’ hopes of a last-minute deal to avert the full tariffs on the two U.S. allies.
And what did Donald Trump say should happen when the Dow Jones drops 1.000 points in two days?
I’m not an economist, but is this where we
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Lower interest rates to “help the economy”
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Normal people still can’t afford things because we’re in a recession
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Normal people start losing their homes
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Rich people have cheap loans to buy said homes due to interest rate drops
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Rich people rent out new homes to normal people for more than they were paying in mortgage, after normal people rebound or figure out how to make it work with two families in the home
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America is…great?
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I wonder how close we are to Trump declaring that “no one knew” how complicated the economy is…
