The Dow Jones Industrial Average plummeted nearly 650 points on Monday, wiping out investors’ last hopes for a reprieve. The move comes after President Trump confirmed he would impose a 25% levy on goods from Canada and Mexico.
The decline was broad-based, affecting 23 of the 30 stocks in the blue-chip index and seven of the 11 sectors in the S&P 500. This downturn is largely attributed to the tariffs, which have sparked market concerns over potential global trade tensions.
A significant impact can be expected from this move, as it may disrupt supply chains and lead to increased costs for businesses that rely on imports from Canada and Mexico. Investors had been holding out hope that the White House would postpone or reconsider its stance on tariffs, but President Trump’s confirmation has dashed those hopes.
Source: https://www.wsj.com/finance/stocks/global-stocks-markets-dow-news-03-03-2025-ea263b07