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Fortune
Fortune
Greg McKenna

Stocks post worst quarter since 2022 ahead of ‘Liberation Day’

A man covers the right side of his face with his hand in apparent distress on the floor of the New York Stock Exchange. (Credit: Spencer Platt—Getty Images)
  • President Donald Trump has changed his tune again on tariffs as investors nervously await a new batch of import taxes to be unveiled on Wednesday. The stock market has had an especially tough March, and a quiet period for earnings has meant bad news out of Washington looms even larger than normal.  

Stocks posted their worst quarter in 2 1/2 years as markets wait in fear of President Donald Trump’s next big tariff announcement on Wednesday. The S&P 500 fell sharply after the opening bell, dipping below the 5,500 mark for the first time since September, before bouncing back to end the session up over 0.5%. The index is down 4.4% year to date, its worst three months since the third quarter of 2022 (the S&P fell 19% that year).

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