The S&P 500 Index ($SPX) (SPY) Monday closed down -2.70%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -2.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -3.81%. March E-mini S&P futures (ESH25) fell -2.58%, and March E-mini Nasdaq futures (NQH25) fell -3.75%.
Stock indexes plunged on Monday, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 posting 5-3/4 month lows. Stocks sank because of concern that tariffs and cuts to the federal workforce will dampen consumer confidence and curb economic growth. Comments from President Trump on a Sunday news show added to pressure on stocks Monday when he said the US economy faces “a period of transition” from his tariff policies and refused to rule out the possibility of a recession. Heavy losses in the Magnificent Seven stocks and chip stocks Monday also weighed on the overall market,
