The US stock market saw a huge sell-off on Monday, losing trillions of dollars in value, as Wall Street questioned how much pain President Donald Trump will let the economy endure through tariffs and other policies to get what he wants.
The S&P 500 tumbled 2.7 per cent to drag it close to 9 per cent below its all-time high from last month. At one point, the S&P 500 was down 3.6 per cent and on track for its worst day since 2022. That’s when the highest inflation in generations was shredding budgets and raising worries about a possible recession that ultimately never came.
The Dow Jones Industrial Average dropped 890 points, or 2.1 per cent in value, after paring an earlier loss of more than 1,100, while the Nasdaq composite skidded by 4 percent.
It was the worst day yet in a scary bear run stretch where the S&P 500 has swung more than 1 per cent, up or down, seven times in eight days, reportedly due to Trump’s tariff plans. The worry in the investors is that the whipsaw moves will either hurt the economy directly or create enough uncertainty to drive US companies and consumers into an economy-freezing paralysis.
