The major U.S. stock indexes closed lower on Monday amid renewed uncertainty surrounding President Donald Trump’s trade policies. Following a Supreme Court decision last Friday that invalidated a significant portion of his earlier broad tariff measures under emergency powers, Trump responded over the weekend by announcing a new baseline global tariff on imports, initially set at 10% and quickly raised to 15%, effective immediately under alternative trade authority.
This rapid policy shift erased much of the optimism from Friday’s gains and triggered a sell-off, particularly in industrials and sectors sensitive to international trade costs. The Dow Jones Industrial Average led the declines, dropping over 700 points in intraday trading before closing with substantial losses. The S&P 500 and Nasdaq Composite also retreated, though … Read more