Trump Tariffs Spark a Stock Rout. Nasdaq Sinks 2.6%.
The stock market fell sharply on Monday because President Donald Trump didn’t blink on tariffs.
The Dow Jones Industrial Average dropped 650 points, or 1.5%. The S&P 500 fell 1.8%. The Nasdaq Composite sank 2.6%.
Wall Street has been holding out hope that Trump’s threats of 25% tariffs on goods from Mexico and Canada starting on Tuesday were more bluster than substance. But Trump hasn’t budged on the import taxes.