Posted on 03/10/25
| News Source: The Hill
The stock market kicked off the week with losses Monday amid growing concern about the state of the U.S. economy and the impact of President Trump’s trade policy.
The Dow Jones Industrial Average opened with a loss of 1 percent Monday, falling 402 points after the opening bell. The Nasdaq composite was down 2.9 percent, and the S&P 500 index was down 1.8 percent.
Stocks have fallen steadily since the start of March in response to a string of underwhelming economic data and whipsaw tariff announcements from the Trump administration.
Wall Street has become increasingly fearful of a recession after public and private-sector job data, consumer confidence surveys and inflation readings showed the economy backtracking from progress made during the end of the Biden administration.
Trump has also rattled markets and business leaders with constantly shifting tariffs on Mexican, Canadian and Chinese products. The president last week subjected all Mexican and Canadian goods to 25 percent tariffs, but later exempted imports that comply with the U.S-Mexico-Canada Agreement (USMCA), the NAFTA rewrite struck during Trump’s first term.
Trump also threatened to impose additional tariffs on Canadian lumber and dairy, and he has reiterated plans to levy reciprocal import taxes to mirror tariffs placed by other countries on U.S. products.