Stocks Slip as Trump Threatens Tariffs on Several Trade Partners
A container ship at the Yokkaichi Port in Yokkaichi, Japan.
Photographer: Buddhika Weerasinghe/BloombergUS equities tumbled Monday as trade fears returned in full force, with President Donald Trump set to impose 25% tariffs on Japan and South Korea, and even higher levies on South Africa and Myanmar.
The S&P 500 Index closed down 0.8%, with nine of the 11 sectors in red and declines led by consumer discretionary and materials. The Nasdaq 100 fell 0.8%, and the Dow Jones Industrial Average slipped 0.9%. The Dow was trading just steps away from hitting a new all-time high before Monday’s retreat.