The trader works on the New York Stock Exchange floor on March 3, 2025.
Spencer Platt | Getty Images
The shares retreated on Monday, extending the February defeat after President Donald Trump confirmed upcoming tariff confirmations.
Dow Jones Industrial Average He dropped 570 points (1.3%) and hit the lowest session in Trump's comments. S&P 500 A decrease of 1.1%. Nasdaq Composite 1.5% slide and weighed nvidiaOver 7% slides. All three indices traded higher early in the session, with the Dow rising 200 points at one point.
These moves came after three major indices that concluded last week were etched into the losses in February. The Dow and S&P 500 each skied over 1% in February, but the technology-rich Nasdaq composite recorded its worst month since April 2024, with a 4% pullback.
Soft economic data from the manufacturing and construction sector, released Monday, provided the latest reasons to worry about the state of the US economy. These releases will launch a big week of economic data that will be restricted by the February employment report scheduled for Friday.
The rocky start to the new trading month comes as Trump's plan to impose import duties this week on major US trading partners to appear in the stock market. These policy proposals rattle investors and have recently boosted market volatility as traders are worried about rekindling inflation.
Commerce Secretary Howard Lutonic said on Sunday on Fox News as the exact tariffs collected against Mexico and Canada from Tuesday remain “fluid.” That is, it said it could be lower than the proposed 25%. He added that the additional 10% obligation on China's imports is “setting.” Treasury Secretary Scott Bessent told CBS that Mexico has offered to match China's US tariffs.
“We have not yet seen whether the stock market will survive this change,” FWDBonds chief economist Chris Rupkey said in a memo. “In some way, tariffs are a shock to the economy.”
Elsewhere, cryptocurrencies gathered after Trump announced the creation of a US strategic crypto sanctuary that includes Bitcoin and ether. Bitcoin jumped 10% for a short time to nearly $94,000 after soaking its three-month low of under $80,000 on Friday.
