On Monday, US stocks experienced a decline as investors prepared for President Donald Trump's proposed tariffs on Canada, Mexico, and China to take effect by the midnight deadline. The Dow dropped 526 points, equivalent to a 1.16% decrease, during afternoon trading. The S&P 500 also fell by 1.31%, while the Nasdaq Composite saw a decline of 1.83%. The Russell 2000 index, which monitors smaller companies, experienced a 1.89% decrease.
According to Jason Draho, the head of asset allocation for the Americas at UBS Global Wealth Management, US stocks are expected to exhibit volatility until there is a shift towards more growth-focused policies by President Trump. Despite the current situation, Draho maintains a positive medium-term outlook and anticipates future growth.
