The Latest: US stock market closes lower after Trump’s latest tariff threats

U S stocks careened after President Donald Trump threatened to crank his tariffs higher on Monday The S P was down in late trading but only after a day of heart-racing reversals as battered financial markets try to figure out what Trump s ultimate goal is for his transaction war If it s to get other countries to agree to pact deals he could lower his tariffs and avoid a achievable recession But if it s to remake the economic activity and stick with tariffs for the long haul stock prices may need to fall further The Dow Jones Industrial Average was down points or with a little less than an hour remaining in trading while the Nasdaq composite was lower Here s the latest Industry volatility shows that investors are still hoping for tariff negotiations Trump has given several reasons for his stiff tariffs including to bring manufacturing jobs back to the United States which is a process that could take years Trump on Sunday announced he yearned to bring down the numbers for how much more the United States imports from other countries versus how much it sends to them Indexes nevertheless did keep swinging between losses and gains Monday in part because hope still remains in markets that negotiations may still come We re not calling the all-clear at all but when you have this type of volatility in the industry of program you re going to have back and forth in markets not just day to day but also hour to hour declared Nate Thooft a senior portfolio manager at Manulife Venture Management We re all waiting for the next bit of information he declared Literally a Truth Social tweet or an announcement of a few sort about real negotiations could dramatically move this sphere This is the world we live in right now Monday s sphere spike shows just how closely investors are watching for news on tariffs A sudden rise Monday morning followed a false rumor that Trump was considering a -day pause on his tariffs one that a White House account on X hurriedly labeled as fake news That a rumor could move trillions of dollars worth of investments shows how much investors are hoping to see signs that Trump may let up on tariffs Stocks briskly turned back down and shortly afterward Trump dug in further and reported he may raise tariffs more against China after the world s second-largest business activity retaliated last week with its own set of tariffs on U S products It s a slap in the face to Wall Street not just because of the sharp losses it s taken but because it suggests Trump may not be moved by its pain A great number of professional investors had long thought that a president who used to crow about records reached under his watch would pull back on policies if they sent the Dow reeling How major US stock indexes fared Monday On Monday The S P fell points or to The Dow Jones Industrial Average fell points or to The Nasdaq composite rose points or to The Russell index of smaller companies fell points or to For the year The S P is down points or The Dow is down points or The Nasdaq is down points or The Russell is down points or US stocks end modestly lower after markets were reeling from tariff fight Stocks ended another tumultuous day lower as markets reel from President Trump s latest threats to escalate his tariff fight The S P sank Monday The Dow Jones Industrial Average fell points or and the Nasdaq composite rose The Dow was earlier down as plenty of as points following even worse losses worldwide on worries that Trump s tariffs could torpedo the global commercial sector It then surged to a gain after a rumor circulated that Trump may pause his tariffs But the White House promptly called that fake news and Trump then threatened to raise tariffs further on China Sell baby sell President s Trump promise to drill baby drill was expected to usher in happy days for fossil fuel companies But it hasn t worked out that way so far Oil and gas companies have been among the biggest decliners over the past inadequate days as an escalating commerce war raises fears of an economic downturn and a drop in demand for vigor products Over the past three trading sessions Devon Vitality Diamondback Vigor and Halliburton have all declined by more than APA Corp which operates in the U S Egypt and the U K has dropped more than The price of oil has declined from around in the middle of last week to Monday Trump says he won t pause tariff plan Despite hopes that he ll back off his arrangement policies the president stated he s not going to pause plans for tariffs We re not looking at that he announced in the Oval Office However he also reported foreign leaders were looking to cut new agreement deals with the U S We have a great number of plenty of countries that are coming to negotiate with us he noted Trump disclosed there was no contradiction between implementing tariffs and holding talks They can both be true he disclosed Trump has lost more than a billion dollars in stock value Trump s stake in his social media company that runs Truth Social has fallen to billion a plunge from when the stock territory began tumbling on tariff fears on February The drop in percentage terms is twice that of the S P The president s heavy exposure to stocks through his Trump Media Apparatus stake contrasts sharply from when he was last president and boasted regularly about stock domain records Back then before he took his social media populace he had just of his wealth in stocks Just how much a backlash from Trump s tariffs will hurt his overseas golf club and hotel and residential tower businesses is unclear because they are privately held Before Trump s Liberation Day tariff announcement Forbes valued his holdings including his Trump Media stake at about billion Experts worry of a practicable bear region Wall Street could soon be in the claws of another bear realm as the Trump administration s tariff blitz fuels fears that the added taxes on imported goods from around the world will sink the global financial sector A bear sphere is a term used by Wall Street when an index such as the S P or the Dow Jones Industrial Average has fallen or more from a latest high for a sustained period of time The last bear realm happened from Jan to Oct in But this decline feels more like the sudden turbulent bear industry of when the benchmark S P index tumbled in a one-month period the shortest bear area ever The S P Wall Street s main barometer of vitality was down in Monday afternoon trading It s now below the all-time high it set on Feb The Dow industrials fell and the tech-heavy Nasdaq composite which already was in a bear area dropped Read more about the feasible shift to a bear territory UK and Singapore prime ministers agree to strengthen collaboration amid US tariffs U K Prime Minister Keir Starmer discussed U S tariffs with his Singapore counterpart and they agreed there can be no winners in a transaction war his office stated Starmer updated Singapore Prime Minister Lawrence Wong on his calls with other leaders over the weekend and both agreed to work to maintain global economic stability according to a readout of the call The two agreed to strengthen collaboration through bilateral agreements and trading blocs such as the Comprehensive and Progressive Trans-Pacific Partnership On the wider bilateral relationship the leaders committed to further collaboration on areas including instrument safeguard and defense in the th year of bilateral relations Starmer s office disclosed Apple Starbucks Caterpillar among declining stocks Apple tumbled again on Monday after President Donald Trump threatened more tariffs against China China is the iPhone maker s second-biggest domain and home to the vast majority of its production and assembly In afternoon trading Apple fell to per share That follows a combined decline of more than on Thursday and Friday Its shares are down more than this year Other notable decliners Monday included Starbucks - Tesla - Levi Strauss - and Caterpillar - Much like the major stock indexes various companies whipsawed back-and-forth between gains and losses Nvidia was down as much as early before rebounding to a gain in the afternoon for instance US Secretary of State speaks with Pakistan s deputy PM about economic cooperation U S Secretary of State Marco Rubio has spoken to Pakistan s deputy Prime Minister Ishaq Dar days after the U S President Donald Trump imposed tariffs on exports to his country from Pakistan In a announcement the Ministry of Foreign Affairs revealed on Monday that the two sides discussed bilateral relations regional protection and economic cooperation The comment quoted Rubio as saying that the cooperation in economic system and pact would be the hallmark of future relations between the two countries The latest expansion came hours after the Pakistan Stock Exchange fell rapidly with Islamabad facing tariffs from the U S Beijing cites President Reagan to blast Trump s tariffs and protectionism Beijing has issued several strongly-worded rebukes to Trump s tariffs including one entirely in the words of late-President Ronald Reagan High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce exchange wars the Republican president stated in a video clip dated as posted on the X social media site Monday by the Chinese Embassy in the U S The embassy wrote that the decades-old speech finds new relevance in The end is more and more tariffs higher and higher trader restrictions and less and less competition Reagan stated in the speech in which he warned of the worst from tariff wars markets should collapse businesses shut down and millions of people lose jobs Experts don t think China will back down in the face of Trump s latest tariff threat Experts say Beijing is unlikely to back down after President Trump threatened to raise tariffs on China if Beijing does not withdraw its retaliatory tariffs At this point it is extremely unlikely for China to back down announced Yun Sun director of the China venture at the Washington-based think tank Stimson Center adding any leadership summit between Trump and Chinese President Xi Jinping doesn t appear likely in the near future China is increasingly convinced that the tariff is not negotiable because Trump s eventual goal is to bring manufacturing jobs back to the U S Sun explained Craig Singleton senior China fellow at another Washington-based think tank Foundation for Defense of Democracies called Trump s threat from in contemporary times a blunt ultimatum to Beijing that sharply raises the takes in the U S -China tariff war He explained Beijing s rigid system and fear of looking weak prevent Xi from opening back channels with the Trump administration that could offer relief This is not a contest of endurance so much as a collision lesson where neither side intends to swerve Singleton revealed In other words Trump and Xi are locked into escalation-as-strategy and the threat now is a slow-motion spiral with no clear ceiling Think twice before bailing out of the stock field financial advisers say The huge swings rocking Wall Street and the global financial sector may feel far from normal But for investing at least drops of this size have happened throughout history Any kind of uncertainty around the commercial sector will give Wall Street pause but the deal war is making it more laborious for companies households and others to feel confident enough to invest spend and make long-term plans Anytime an investor sees they re losing money it feels bad This latest run feels particularly unnerving because of how incredibly calm the sphere had previously been The S P is coming off a second straight year where it shot up by more than Selling may offer certain feeling of relief But it also locks in losses and prevents the chance of making the money back over time Historically the S P has come back from every one of its downturns to eventually make investors whole again That includes after the Great Depression the dot-com bust and the COVID crash Read more about what experts advise you do with your money in the stock territory Markets in Europe sink for a third day European markets continued their modern descent Monday logging a third straight day of major losses Germany s DAX index which briefly fell more than at the open on the Frankfurt exchange recovered specific ground and closed down In Paris the CAC shed while Britain s FTSE tumbled Prior to last week preponderance indexes in Europe had enjoyed a resurgence after underperforming U S markets last year The EUs executive commission which handles business issues for the -country bloc is set to impose tariffs on jeans whiskey and motorcycles Wednesday in response to Trump s increase in steel and aluminum tariffs EU commissioners haven t cemented a response to Trump s reciprocal tariff of on European goods and a tariff imposed on autos Betting on a Fed rate cut Wall Street is increasingly betting that the Federal Reserve will cut its main interest rate at least four times this year That expectation has increased since the White House unleashed its sweeping tariffs on imported goods As of Monday traders are betting on a chance that the Fed will leave its rate unchanged at its next meeting of policymakers in May according to details from CME Group That d down from a month ago However traders odds of rate cut announcements at Fed meetings in June July September and December are all up versus a month ago The Fed has been holding interest rates steady this year after cutting them sharply through the end of last year Copper prices fall further The price of copper fell nearly Monday following sharp drops late last week Copper prices were up as much as for the year as of late March and nearly all of those gains have been erased Copper prices had hit record levels because of growing demand amid developments for artificial intelligence apparatus and a global shift to cleaner capacity A prolonged commerce war threatens economies around the world That makes investments in hardware and ability infrastructure more intricate Much of the world s innovation wouldn t work without copper It goes into cords for electrical devices transmission lines batteries LED lights and other electronics Gas price increase is likely short-lived The average price for a gallon of gas is up for the third straight week in the U S but that s likely to reverse discipline soon with oil prices in rapid retreat The average price for a gallon of gas hit this week up more than cents according to GasBuddy That s still more than cents lower that last year at this time Oil prices on Monday briefly dipped below for the first time since as a global bargain war escalates Patrick De Haan head of petroleum analysis at GasBuddy mentioned that if tariffs aren t scaled back soon the national average could fall below per gallon in the coming weeks Heavy weights lead industry shifts Wall Street s big swings are being led by the equipment sector which has an outsized impact on the broader field The sector is full of companies with pricey stock valuations such as Nvidia which tend to push and pull the area with greater force than less valuable stocks Their heft means a big shift either way for a just handful of companies can sink or lift the S P Apparatus companies including chipmakers have seen their values skyrocket over hopes for artificial intelligence advancements Higher costs for chips and other technologies pose a pitfall to that maturation and the earnings advancement prospects for companies like Nvidia Apple and Microsoft British prime minister says tariffs are a challenge for the UK British Prime Minister Keir Starmer on Monday declared President Trump s tariffs were a huge challenge for the U K and could have profound consequences for the global financial sector But this moment has also made something very clear that this is not a passing phase he declared And just as we ve seen with our national safety particularly over new months in relation to the war in Ukraine now with our commerce and commerce this is a perfectly new world an era where old assumptions which we ve long taken for granted completely don t apply any longer Speaking to workers at a plant in the West Midlands that makes Jaguar and Land Rover vehicles for the export sphere Starmer announced his cabinet would continue to try to negotiate a transaction deal with the United States while championing free pact around the world Jaguar Land Rover on Saturday disclosed that it was pausing shipments to the U S for the month of April as it works out how to respond to the tax on imported cars that took effect last week Starmer publicized specific help for the British car industry providing additional flexibility in meeting the regime s deadline for phasing out gasoline- and diesel-power cars extending the deadline for hybrids to and offering tax breaks for buyers of electric vehicles Slide in oil prices deepens Oil prices are falling Monday extending their slide from last week as investors anticipate that a deal war will chill global economic upsurge The price of benchmark U S crude oil is down to a barrel Earlier in the day it briefly dipped below a barrel for the first time since U S crude is down so far this month Brent crude the international standard is down to a barrel Bitcoin and other cryptos see large price drops After holding relatively stable during last week s global field turmoil cryptocurrencies have joined the sell-off Bitcoin the world s majority popular cryptocurrency dipped below Monday morning before seeing a slight rebound Bitcoin s prices haven t been this low since just after President Donald Trump s Polling Day achievement last year launched a bull run in crypto prices Bitcoin s backers say it is a type of digital gold that can act as a hedge against volatility But Garrick Hileman an independent cryptocurrency analyst mentioned bitcoin s price slide shows that thesis still hasn t proven to be true It s just not there in current times he disclosed Bitcoin trades like a risky tech stock Other major digital assets like ether XRP and solana saw even bigger one-day percentage drops on Monday morning Bond yields are mixed after brief rally Treasury yields are mixed in Monday morning trading on the bond field after briefly rallying in the early going The yield on the -year Treasury rose to from late Friday It had fallen as low as overnight The yield which influences interest rates on mortgages and other consumer loans was nearing in mid-January The two-year yield which closely tracks expectations for action by the Federal Reserve was steady at A White House account on X says it was fake news that Trump was considering a tariff pause The account RapidResponse weighed in shortly after the sector spiked then dropped again Stock industry spikes reacting to White House analysis that president may pause tariffs The stock territory briefly spiked on a review that Kevin Hassett a top White House economic adviser commented the president was considering a -day pause on tariffs The supposed remark from Hassett circulated on social media but no one could pinpoint where it came from even as the area flashed from red to green Hassett had spoken to Fox News earlier in the morning when he was solicited about a possible pause However he was noncommittal I think the president is going to decide what the president is going to decide he disclosed The episode demonstrated that traders were operating on a hair trigger and eager for any sign of encouraging news for the industry Stocks are sharply swinging down up then down again on Wall Street The Dow Jones Industrial Average briefly erased a morning loss of points shot up more than points then went back to a loss of points The S P likewise made sudden up-and-down lurching movements and was down in the first hour of trading The Nasdaq composite was up That followed sharp drops around the world as worries rise about whether Trump s business war will torpedo the global business activity A big Tesla bull slams Musk slashes stock price target Wedbush analyst Dan Ives says Elon Musk s association with President Trump and his tariffs will turn off feasible Tesla buyers in China the company s second largest domain Ives writes that Musk s embrace of right-wing politics is destroying demand for his electric vehicles in the U S and Europe too This could be a brutal year ahead if Musk does not exit stage left or take a step back on DOGE in the coming month Ives writes referring to the Tesla CEO s leadership of the establishment cost-cutting group With major protests erupting globally at Tesla dealerships Tesla cars being keyed and a full brand problem tornado turning into a life of its own this has cast a dark black cloud over Tesla s stock Even before Trump s tariffs Tesla stock had plunged more than from its mid-December high Ives new price target of still assumes big gains Tesla was trading Monday morning at down more than Japan s prime minister stated Trump he is concerned the tariffs will discourage expenditure from Japan Japanese Prime Minister Shigeru Ishiba mentioned he spoke on the telephone with Trump on Monday night and recounted him he is strongly concerned that U S tariffs would discourage capital from Japan which has been the world s biggest investor in the United States in the past five years Ishiba stated he urged Trump to seek a more mutually beneficial bilateral cooperation and that Japan will keep negotiating to get the U S governing body reconsider the measures The two leaders reaffirmed their efforts to resolve the issue and agreed to appoint a club of representatives on each side for further negotiations Ishiba noted his administration will hold a first ministerial taskforce meeting to tackle what he called a national situation The prime minister stated a parliamentary session earlier Monday that he doesn t think the difficulty can be resolved unless Japan makes a counter proposal and that Japan necessities to propose how the two countries can make a new relationship as a package Ishiba however reported he is not considering a retaliatory measure because it only makes things worse Ishiba noted the leadership will do everything it can to help the industries affected especially small and medium sized business owners Wall Street opens sharply lower Wall Street is sinking again following other global markets as worries deepen about whether Trump s transaction war will torpedo the global market The S P fell in early trading Monday coming off its worst week since COVID began crashing the global economic system in March The Dow Jones Industrial Average was down points and the Nasdaq composite was lower European markets saw losses of or more In Asia stocks in Hong Kong plunged for their worst day since Japan s Nikkei index tumbled nearly European Union will focus on global commerce outside the US European Commission President Ursula von der Leyen says the European Union is looking to do more business elsewhere in the world as President Trump s tariffs hit international arrangement She stated Monday that the EU is also is setting up a taskforce to monitor any dumping on its markets that might happen as commerce patterns change We will focus like a laser beam on the of global agreement that is beyond the United States Vast opportunities von der Leyen revealed After deals already done with Mexico and Switzerland she stated we re working on India Thailand Malaysia Indonesia and a great number of others Von der Leyen says the taskforce will help to monitor any unexpected surges in imports and protect ourselves against indirect effects through agreement diversion The European Commission negotiates deal deals and disputes on behalf of the EU member countries Von der Leyen insists the EU still wants a deal with the Trump administration but that we are preparing a prospective list for retaliation and other measures for retaliation if this is necessary JPMorgan CEO says tariffs will slow business sector JPMorgan Chase CEO Jamie Dimon says the Trump administration s pact policies will likely product in higher prices for both imported and domestic goods and services weighing on an already slowing U S economic system In his annual letter to shareholders issued Monday Dimon explained the U S commercial sector already faced a number of challenges sticky inflation geopolitical tensions Federal Reserve program including still-high interest rates and high fiscal deficits Dimon also declared that countless stocks in the industry have been priced too high The outspoken and influential CEO often comments on both domestic and international issues Whether or not the menu of tariffs causes a recession remains in question but it will slow down development Dimon wrote while also saying I still have an abiding faith in America Goldman Sachs says tariff announcement may have caused irreversible damage The financial firm disclosed a recession has become more likely even if Trump retreats from his arrangement policies Goldman Sachs also reduced its expectations for economic rise following a sharp tightening in financial conditions foreign consumer boycotts and a continued spike in framework uncertainty that is likely to depress capital spending by more than we had previously assumed But even meeting those expectations would now require a large reduction in the tariffs scheduled to take effect on April Finger pointing as markets plunge The dispute over tariffs has caused certain fracturing within Trump s political coalition Hedge fund manager Bill Ackman revealed the president was launching a global economic war against the whole world at once and urged him to call a time out We are heading for a self-induced economic nuclear winter he wrote on X on Sunday Top White House economic adviser Kevin Hassett notified Fox News on Monday morning that Ackman should ease off the rhetoric a little bit Hassett noted critics were exaggerating the impact of agreement disputes and talk of an economic nuclear winter was thoroughly irresponsible rhetoric Hong Kong stock sphere slumps but official warns against drastic action Hong Kong Financial Secretary Paul Chan says the current volatility in the sector does not warrant any drastic measures to be taken vowing the city will remain a free port After the city s stock area slumped on Monday Chan stated reporters that it was functioning in an orderly manner with substantial selling and buying interests But the U S tariffs will inevitably cause realm fluctuations and retaliatory measures and interest rate framework from other countries will trigger more volatile capital flows He blasted the latest U S tariffs as bullying and unreasonable saying they have disrupted global supply chains and severely impacted the global economic recovery process Hong Kong a former British colony which returned to China in enjoys semiautonomy that allows its policies and economic system to be different from mainland China s German exports to the US grew in February as firms anticipated tariffs Germany has disclosed a large increase in exports to the United States in February ahead of U S President Donald Trump s announcement of sweeping tariffs Germany has Europe s biggest business activity and is a leading exporter Last year the United States was its biggest single trading partner for the first time in nearly a decade displacing China The Federal Statistical Office declared Monday that Germany s exports to the U S were up in February compared with the previous month at billion euros billion German exports to the entire world including other EU nations were up in the same period at billion euros The head of Germany s exporters association the BGA stated the February increase must not deceive us as the rise in exports to the U S was due to anticipatory effects Dirk Jandura revealed in a comment that U S firms bunkered and German firms moved deliveries forward He added that Germany and the EU must expeditiously find their role in the new world order and approach the global South with pragmatic offers Jandura argued that the sweeping U S blow offers a unique opportunity to position Europe as a reliable and trustworthy partner German business sector minister calls US tariffs nonsense Germany s financial market minister says the premise of U S President Donald Trump s wide-ranging tariffs is nonsense and he is arguing that Europe is in a strong position Robert Habeck who is also vice chancellor in Germany s outgoing regime declared as he arrived at a meeting of European Union pact ministers in Luxembourg Monday that he and his colleagues must act calmly prudently but also clearly and with determination He commented that means being clear that we are in a strong position America is in a position of weakness He argued that we don t have time pressure now but the U S does Habeck explained it s central for the EU to stick together arguing that attempts by individual countries to win exemptions haven t worked in the past He stressed the importance of arrangement agreements and contacts with other regions of the world such as South America Asia and the Pacific The German minister disclosed of Trump s tariffs that even the basis of the calculation is nonsense The assumption that a arrangement budget surplus or deficit is a challenge in itself is a wrong estimation Indonesia says it won t retaliate against Trump s tariffs Indonesia says it won t retaliate against Trump s tariff but will pursue diplomacy and negotiations to seek mutually beneficial solutions Indonesia which had an billion agreement surplus with the U S last year will gather input from business leaders to create a strategy for addressing the tariffs and find techniques to reduce the deficit Coordinating Economic Affairs Minister Airlangga Hartarto explained Monday We will increase the volume of purchases so that the billion pact deficit can be reduced Hartarto mentioned China accuses US of unilateralism protectionism and economic bullying China on Monday accused the United States of unilateralism protectionism and economic bullying with tariffs Putting America First over international rules is a typical act of unilateralism protectionism and economic bullying Foreign Affairs spokesperson Lin Jian explained reporters Last week Trump put an additional tariff on Chinese goods on top of two rounds of tariffs already declared in February and March which Trump explained was due to Beijing s role in the fentanyl dilemma China and other governments retaliated expeditiously China reported its own tariff rate on U S goods Lin commented the new tariffs harmed the stability of global production and supply chains and seriously impacted the world s economic recovery Pressure and threats are not the way to deal with China China will firmly safeguard its legitimate rights and interests Lin added European shares plunge in early trading European shares dropped in early trading with Germany s DAX falling to In Paris the CAC shed to while Britain s FTSE lost to South Korea s top bargain negotiator will visit Washington South Korea s top exchange negotiator will visit Washington this week to express Seoul s concerns over the Trump administration s increased tariffs and discuss methods to mitigate their negative impact on South Korean businesses South Korea s Ministry of Bargain Industry and Resource commented Monday that its minister of agreement Inkyo Cheong plans to meet with various U S officers including U S Bargain Representative Jamieson Greer The ministry says Cheong aims to gather detailed information on the Trump administration s bargain policies and engage in discussions to reduce the tariffs placed on South Korean products Source