Live Updates S&P 500 (SPY): Market On a Wild Ride As President Trump Holds Tariff Line
U.S. markets are a wild ride, reeling from President Trump’s tariff stubbornness. The S&P 500 (SPY) hit bear territory—down 20% from its peak—before clawing back to 5214, before swinging lower, yet again with traders asking if it’s “Black Monday” 2.0—think 1987’s 22.6% crash. President Trump’s Sunday take—“sometimes you have to take medicine”—isn’t calming anyone. The […] The post Live Updates S&P 500 (SPY): Market On a Wild Ride As President Trump Holds Tariff Line appeared first on 24/7 Wall St..
U.S. markets are a wild ride, reeling from President Trump’s tariff stubbornness. The S&P 500 (SPY) hit bear territory—down 20% from its peak—before clawing back to 5214, before swinging lower, yet again with traders asking if it’s “Black Monday” 2.0—think 1987’s 22.6% crash.
Key Points
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S&P 500 hit bear territory, swung to 5214, then fell again amid tariff talks.
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Trump’s tariff stance and $6.6T loss fuel volatility; VIX nears 50, global markets tank
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President Trump’s Sunday take—“sometimes you have to take medicine”—isn’t calming anyone. The VIX “fear gauge” is jumping, currently sitting just below 50 and global markets are tanking: Hong Kong’s index crashed 13%, Shanghai and Tokyo lost 10%, Europe’s Stoxx 600 shed 4%. Crude oil’s at $66.73, reflecting trade war jitters.
This chaos follows last week’s $6.6 trillion S&P 500 wipeout after Trump’s tariffs—10% on the UK, steeper on others—hit harder than expected. China’s 34% retaliatory duties didn’t help. A year ago, the S&P 500 was at 501.98; now, it’s down 14% year-to-date from 594.18 in February. Experts like JPMorgan’s Jamie Dimon warn of growth risks, while Bill Ackman pushes for a delay. With the index teetering, any whisper of tariff suspensions or further escalations of tariff wars will magnify the movement of broad markets.
The post Live Updates S&P 500 (SPY): Market On a Wild Ride As President Trump Holds Tariff Line appeared first on 24/7 Wall St..
