NEW YORK — (AP) — The threat of a punishing trade war sent Wall Street on a roller coaster Monday. After initially falling sharply on worries about President Donald Trump’s tariffs, U.S. stocks pared their losses after Mexico said it had negotiated a one-month reprieve.
The S&P 500 ended up falling 0.8% after Asian and European indexes logged worse drops. The Dow Jones Industrial Average lost 122 points, or 0.3%, and the Nasdaq composite sank 1.2%.
The U.S. stock market had been on track for a much worse loss at the start of trading on worries about how much pain U.S. companies would feel because of the tariffs. The S&P 500 was briefly down nearly 2%, and the Dow dropped as many as 665 points.
Some of the heaviest losses hit Big Tech and other companies that could be hurt most by higher interest rates that could result from the U.S. tariffs announced on imports from Canada, Mexico and China.
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