U.S. shares slipped Monday, ending a historic rally as traders grew cautious over renewed commerce tensions and awaited alerts from the Federal Reserve.
The S&P 500 dropped 0.64% to five,650.38, breaking a nine-day profitable streak — its longest since 2004. The Nasdaq Composite fell 0.74% to 17,844.24, and the Dow Jones Industrial Common dipped 0.24% to 41,218.83.
Shares opened decrease as President Trump escalated tariff rhetoric over the weekend, together with a proposed 100% levy on international movies, which hit shares of Netflix and Paramount.
The announcement added to current uncertainty round commerce negotiations, significantly with China. Trump mentioned he had no plans to talk with President Xi Jinping, regardless of earlier hopes of resumed talks.
Losses throughout the foremost indexes deepened throughout the day however eased after stronger-than-expected U.S. providers sector information and a Bloomberg report that India might supply tariff-free entry for choose items on a reciprocal foundation.
Commerce offers are shut
Treasury Secretary Scott Bessent advised commerce offers are close to, echoing Trump’s feedback that new agreements may arrive this week. Nonetheless, many traders stay skeptical.
The pullback comes forward of a key Fed determination on Wednesday. Markets are pricing in only a 3.2% likelihood of a charge reduce, however traders will intently watch Fed Chair Jerome Powell for commentary on the financial outlook amid commerce uncertainty.