Live Updates S&P 500 (SPY): Market On a Wild Ride As President Trump Holds Tariff Line
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11:23 am
President Trump is again threatening to slap a 50% tariff increase on China starting Wednesday if they do not drop their 34% retaliatory tariffs on the United States by tomorrow.
He’s accusing China of unfair trade practices like currency manipulation and subsidies.
The S&P 500 is down .51% as of 11:25 am.
11:17 am
Whispers surfaced that the White House might be eyeing a “90-day tariff pause,” but CNBC reporting no White House officials were aware of such a plan. The S&P 500 tanked, sliding back to 5000 by 10:45 am. The total swing was $5.5 trillion dollars over a 30 minute time span.
This rollercoaster ties to last week’s $6.6 trillion S&P 500 loss after Trump’s tariffs hit. Investors are hypersensitive—any tariff hint moves mountains. Stay tuned; this could shift again with the next headline.
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S&P 500 hit bear territory, swung to 5214, then fell again amid tariff talks.
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Trump’s tariff stance and $6.6T loss fuel volatility; VIX nears 50, global markets tank
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President Trump’s Sunday take—“sometimes you have to take medicine”—isn’t calming anyone. The VIX “fear gauge” is jumping, currently sitting just below 50 and global markets are tanking: Hong Kong’s index crashed 13%, Shanghai and Tokyo lost 10%, Europe’s Stoxx 600 shed 4%. Crude oil’s at $66.73, reflecting trade war jitters.
This chaos follows last week’s $6.6 trillion S&P 500 wipeout after Trump’s tariffs—10% on the UK, steeper on others—hit harder than expected. China’s 34% retaliatory duties didn’t help. A year ago, the S&P 500 was at 501.98; now, it’s down 14% year-to-date from 594.18 in February. Experts like JPMorgan’s Jamie Dimon warn of growth risks, while Bill Ackman pushes for a delay. With the index teetering, any whisper of tariff suspensions or further escalations of tariff wars will magnify the movement of broad markets.
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