Stocks fell on Wall Street as the Trump administration stepped up pressure on trading partners to make deals before punishing tariffs imposed by the U.S. take effect.
The S&P 500 lost 0.8% Monday. The Dow Jones Industrial Average gave back 0.9%, and the Nasdaq composite fell 0.9%.
Tesla tumbled as the feud between CEO Elon Musk and President Donald Trump reignited over the weekend. Musk, once a top donor and ally of Trump, said he would form a third political party in protest over the Republican spending bill that passed last week.
On Monday:
The S&P 500 fell 49.37 points, or 0.8%, to 6,229.98.
The Dow Jones Industrial Average fell 422.17 points, or 0.9%, to 44,406.36.
The Nasdaq composite fell 188.59 points, or 0.9%, to 20,412.52.
The Russell 2000 index of smaller companies fell 34.81 points, or 1.5%, to 2,214.23.
For the year:
The S&P 500 is up 348.35 points, or 5.9%.
The Dow is up 1,862.14 points, or 4.4%.
The Nasdaq is up 1,101.72 points, or 5.7%.
The Russell 2000 is down 15.93 points, or 0.7%.
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