Wall Street is fed up with Trump’s tariffs. Stocks are off to their worst start to a year since 2020 | CNN Business
As Wall Street heads into a new quarter, a flurry of President Donald Trump’s tariffs are set to go into effect. That has traders on edge and has helped put US stocks in their worst first-quarter slump in years.
Wall Street has been rocked with volatility this year as Trump’s tariff proposals have kept investors in a cloud of uncertainty. The benchmark S&P 500 index is down almost 6% for the year, its worst start since 2020.
US stocks were lower Monday. The Dow was down by 50 points, or 0.1%, pulling back from opening lower by about 300 points. The S&P 500 was lower by 0.8% and the Nasdaq Composite slid 1.8%. The S&P 500 briefly reentered correction territory, down 10% from its record high in February, and dropped to its lowest level since September.
Stocks around the globe were lower Monday ahead of Trump’s so-called “Liberation Day” this Wednesday when reciprocal tariffs in addition to others are set to go into effect. Economists anticipate the sweeping tariffs could spur inflation and drag on economic growth.
