S&P 500 ends down after wild session as Trump digs in on tariffs

According to preliminary data, the S&P 500 lost 14.22 points, or 0.28 percent, to end at 5,059.86 points, while the Nasdaq Composite gained 14.66 points, or 0.09 per cent, to 15,602.44. The Dow Jones Industrial Average fell 356.67 points, or 0.93 per cent, to 37,958.19.

In the two days following Trump’s tariff announcements last week, the benchmark S&P 500 index dived 10.5 per cent and lost about US$5 trillion in market value. It was the biggest two-day loss since March 2020.

On Friday, the blue-chip Dow confirmed it was in a correction, or more than 10 per cent below its December record close, while the Nasdaq confirmed it was in a bear market.