US stock market sinks lower after wild swings over Trump’s tariff plans
Al Jazeera
US president threatens additional 50 percent tariff on China, as Beijing pledges to fight trade salvoes ‘to the end.’
US stocks have mostly closed lower after a day of wild swings in the market, as investors scramble to make sense of United States President Donald Trump’s tariff plans.
The benchmark S&P500 and Dow Jones Industrial Average on Monday fell 0.23 percent and 0.91 percent, respectively, racking up a third conservative day of losses.
The tech-heavy Nasdaq Composite finished slightly up, rising 0.099 percent.
The dip followed a day of volatile trading, with unfounded reports that Trump was considering a 90-day pause to his tariffs briefly sending the S&P 500 up more than 7 percent.
The index quickly reserved its gains after the White House dismissed the report, which was picked up by a number of news outlets after being circulated on social media, as “fake news”.
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