Stocks go on a topsy-turvy ride as Trump doubles down on tariffs

U.S. stocks are swinging in a manic Monday after President Donald Trump doubled down on his tariffs, despite seeing how much Wall Street wants him to do the opposite.

The S&P 500 was up 0.3% in afternoon trading, coming off its worst week since COVID began crashing the global economy in March 2020. The index, which sits at the heart of many investors’ 401(k) accounts, has been flirting with a drop of 20% from its record set less than two months ago.

The Dow Jones Industrial Average was down 184 points, or 0.5%, as of 2:37 p.m. Eastern time, and the Nasdaq composite was 0.8% higher.

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