Wall Street is fed up with Trump's tariffs. Stocks are off to their worst start to a year since 2022 [View all]
Source: Yahoo! Finance/CNN
Mon, March 31, 2025 at 4:10 PM EDT
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 4.6% for the year, its worst start since 2022 and its worst quarter since September 2022.
US stocks were mixed Monday as traders staged an afternoon rally. The Dow closed higher by 418 points, or 1%, reversing course after opening lower. The S&P 500 gained 0.55%. The benchmark index rebounded into the green in the afternoon after sliding as much as 1.65% Monday morning, briefly reentering correction territory and dropping to its lowest level since September. The Nasdaq slid 0.14%, paring losses after sliding 2.7% in morning trading and hitting its lowest level since September.
While US stocks rebounded, 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 be unveiled. Economists anticipate the sweeping tariffs could spur inflation and drag on economic growth.
The full extent of Trump’s tariffs is yet to be seen, and the lack of clarity has weighed on Wall Street. Market strategists have been revising down their forecasts for US stocks amid heightened concerns about the impact of Trump’s tariffs on the US economy.
Read more: https://finance.yahoo.com/news/wall-street-fed-trump-tariffs-134314150.html
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