S&P 500 Wipes Post-Election Gain as Trump Unleashes Tariffs [Video]

The S&P 500 erased its post-election gains as U.S. President Donald Trump moved forward with tariffs against key trading partners, including Canada, Mexico and China, which are all hitting back.

On November 5, the day of the U.S. elections, the S&P 500 index sat at 5782.76. At the time of writing on March 4, it was at 5764.34, indicating a softening in investor confidence in the economic outlook for American companies.

What to Know

The tariffs between the U.S., China, Canada and Mexico helped to extend a recent slump for U.S. stocks that was prompted by signs of weakness in the economy.

The S&P 500 fell 1.4 percent, weighed down by nearly every sector, except real estate and utilities, which are typically considered to be relatively safer investments.

Imports from Canada and Mexico will now be taxed at 25 percent, with Canadian energy products subject to 10 percent import duties. The 10 percent tariff that …