US shares fell sharply Monday as buyers ready for an additional week of developments on President Trump’s fast-moving tariff insurance policies and for the kickoff of Large Tech earnings stories, with Fed independence additionally looming as an rising threat.
The S&P 500 (^GSPC) was down over 1%, whereas the tech-heavy Nasdaq (IXIC) sank 1.4%, main the best way down. The Dow Jones Industrial Common (^DJI) dropped 1%, over 350 factors.
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As Yahoo Finance’s Josh Schafer wrote in our preview of the week, the inventory market stays largely on the mercy of Trump’s tariffs. Completely different headlines and shifts in narratives have pushed large market swings over the previous a number of weeks, with all three indexes down over 5% since Trump’s “Liberation Day” occasion.
Learn extra: The newest on Trump’s tariffs
Traders are additionally grappling with one other rising concern: Trump’s bluster round eradicating Fed Chair Jerome Powell, with whom Trump is sad for allegedly conserving rates of interest too excessive. Trump’s new deal with Powell comes after the Fed chief delivered a stark warning on the potential results of tariffs on the economic system.
The “sell-America” commerce gathered extra steam Monday, because the US greenback (DX=F) index eyed its lowest stage since 2022 and the benchmark 10-year Treasury yield (^TNX) rose to close 4.4%.
In the meantime, earnings season continues, with this week looming as pivotal. Two of the “Magnificent Seven” take the highlight of some 120 S&P 500 firms reporting this week: Elon Musk’s Tesla (TSLA) and Alphabet (GOOG, GOOGL). Each shares are emblematic of this yr’s shift away from the high-flying tech commerce of current years. Alphabet inventory is down practically 20% to this point in 2025, whereas Tesla has misplaced a whopping 40%.
Tesla shares misplaced 4% in early buying and selling on Monday. One other Magnificent Seven peer, Nvidia (NVDA), continued a current slide, down 3% as China seems to home alternate options amid new US curbs on Nvidia’s chip gross sales.
In the meantime, bitcoin (BTC-USD) surged to its highest stage since Trump’s “Liberation Day” tariff bulletins. Gold (GC=F) additionally reached one other document, crossing the $3,400 stage for the primary time.
LIVE 10 updates
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Traders pour into European fairness funds, flee US
As my colleague Ines Ferré famous beneath, the “promote America” theme is alive and properly in markets amid heightened commerce tensions and President Trump’s heavy criticism of Fed Chair Powell.
Information from LSEG Lipper confirmed US fairness funds and bond funds confronted promoting stress within the week ended April 16 as tariffs revived recession fears.
Reuters stories:
Learn extra right here.
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Shares fall as Trump tariffs, criticism in opposition to Fed takes middle stage
US shares dropped on Monday as buyers assessed the affect of President Trump’s tariff coverage and criticism of the Federal Reserve on US property.
The S&P 500 (^GSPC) was down roughly 1%, whereas the tech-heavy Nasdaq (^IXIC) fell about 1.4%. The Dow Jones Industrial Common (^DJI) dropped over 200 factors.
Tech shares led the market decrease on Monday, with the entire “Magnificent Seven” shares within the pink.
The US greenback (DX=F) index neared its lowest stage since 2022, and the benchmark 10-year Treasury yield (^TNX) rose to close 4.4% because the “promote America” theme took middle stage following President Trump’s heightened criticism of Fed Chair Jerome Powell for not reducing charges quickly sufficient.
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Nvidia inventory falls as China’s Huawei reportedly boosts AI chip manufacturing
Yahoo Finance’s Laura Bratton stories:
Learn extra right here.
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Uncover, Capital One shares soar after lenders get key merger approvals
Uncover (DFS) and Capital One (COF) shares continued to realize on Monday morning after two financial institution regulators permitted Capital One’s $35 billion buy of Uncover.
Uncover shares jumped greater than 7% forward of the opening bell whereas Capital One (COF) climbed 4%.
As Yahoo Finance’s David Hollerith notes, Capital One’s buy of Uncover would make it the most important bank card issuer within the US by mortgage quantity, even larger than JPMorgan Chase (JPM).
The mixed financial institution is predicted to have consolidated property of roughly $637.8 billion, making it the sixth-largest nationally chartered US financial institution, in line with regulators.
Learn extra right here.
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US inventory futures speed up losses
US inventory futures took a leg decrease Monday morning as buyers await updates on tariffs and threats to Federal Reserve independence reemerged.
S&P 500 futures (ES=F) tumbled 1.4%, whereas these on the tech-heavy Nasdaq (NQ=F) sank 1.58%. Dow Jones Industrial Common futures (YM=F) dropped 1.2%, over 400 factors. Losses have accelerated over the previous hour.
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The “Magnificent Seven” tech shares have been all down no less than 1% in premarket buying and selling.Nvidia (NVDA) inventory fell 3% whereas Tesla (TSLA), which stories earnings on Tuesday, dropped 4%.
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Good morning. Here is what’s taking place in the present day.
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The inventory market could not have absolutely priced in a recession
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Netflix inventory rises as rosy outlook calms buyers’ nerves amid tariff fears
Netflix (NFLX) shares climbed 3% in premarket buying and selling on Monday, boosted by a constructive annual income forecast that eased investor considerations about its capacity to climate an financial slowdown amid tariff-related challenges.
Reuters stories:
Learn extra right here
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Bitcoin rebounds as Trump’s push in opposition to Powell weakens greenback
Bitcoin (BTC-USD) soared to its highest level since Donald Trump’s “Liberation Day” tariff remarks, because the greenback weakened amid rising considerations over the president’s push to take away Federal Reserve Chairman Jerome Powell.
Bloomberg Information stories:
Learn extra right here
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Gold hits document as greenback sags and commerce battle considerations persist
Gold (GC=F) surged to a document excessive, pushed by a dip within the US greenback, President Trump’s criticism of the Federal Reserve, and ongoing commerce battle fears, fueling demand for safe-haven property.
Bloomberg Information stories:
Learn extra right here
