The S&P 500 Index ($SPX) (SPY) Monday closed down -0.79%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.94%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.79%. September E-mini S&P futures (ESU25) are down -0.82%, and September E-mini Nasdaq futures (NQU25) are down -0.80%.
Stocks were under pressure on Monday as trade tensions returned to the forefront, with US trading partners rushing to finalize trade deals with the Trump administration ahead of Wednesday's deadline. On Sunday, President Trump pledged to announce unilateral tariff rates on dozens of countries in the coming days. Mr. Trump also stated that countries aligning with the anti-American policies of the BRICS group of nations (Brazil, Russia, India, China, and South Africa) will face an additional 10% tariff.
