Wall Street Drops As Trump’s Tariffs Hit Markets

Worries about President Donald Trump’s tariffs are hurting U.S. stocks. The S&P 500 sank 1.7% in early Monday trading following similar losses for markets across Asia and Europe. The Dow Jones Industrial Average fell 557 points, and the Nasdaq composite dropped 2.1%. Everything from bitcoin to the Mexican peso fell, not just stocks of the U.S. companies expected to be the first to feel pain from tariffs on goods imported from Canada, Mexico and China. Some of the sharpest losses hit Big Tech and stocks that would be hurt most by higher interest rates and the worse inflation that could result from tariffs.