U.S. stocks took a nosedive Monday, and President Donald Trump’s tariff rollercoaster is the culprit shaking Wall Street to its core.
The Dow shed 530 points midday after a 400-point opening plunge, the S&P 500 dropped 2.2%, and the Nasdaq—dragged into correction territory—tumbled 3.6%.
Tech titans led the bleed: Tesla cratered over 10%, Nvidia slipped 4%, and Palantir took a 7% hit. Even the “Magnificent Seven” couldn’t escape the red tide.
Trump’s Sunday Fox News quip about a “period of transition”—while dodging recession talk—lit the fuse. His tariff playbook’s a mess: 20% on Chinese imports, 25% on steel and aluminum starting March 12, and a wild 250% threat on Canadian dairy.
A Canada-Mexico reprieve until April 2 only muddied the waters. “The tariff flip-flops breed chaos,” warned David Bahnsen of the Bahnsen Group, predicting economic dents for “a quarter or two.”
Across the Atlantic, Kenya’s watching closely—our tech and export sectors could feel the ripple if global growth stalls. Stateside, layoffs pile up, hiring slows, and consumer confidence wanes as inflation ticks higher.
The 10-year Treasury yield dipped to 4.215% as jittery investors flocked to bonds. All eyes are on Wednesday’s inflation data—will it signal a stubborn beast?
