The S&P 500 Index ($SPX) (SPY) Monday closed down -0.76%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.28%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.84%. March E-mini S&P futures (ESH25) fell by -0.72%, and March E-mini Nasdaq futures (NQH25) fell by -0.76%.
Stock indexes on Monday settled moderately lower, with the S&P 500 posting to a 2-1/2 week low, the Dow Jones Industrials posting a 1-1/2 week low, and the Nasdaq 100 posting a 1-week low. Global equity markets came under pressure Monday after President Trump on Saturday announced 25% tariffs on Canada and Mexico and 10% on China and warned that European tariffs are coming. The tariffs were set to take effect on Tuesday and could spark a trade war that threatens economic growth worldwide. Goldman Sachs warned there's a risk of a 5% slump in US stocks because of the hit on corporate earnings, and RBC Capital Markets estimates stock declines of 5% to 10%.
