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As the Trump administration’s evolving trade policies rattle Wall Street, the S&P 500 and Nasdaq indexes are on track to clock their worst quarter since spring 2022, The Washington Post reports.
Investors have struggled to find solid footing amid a barrage of new tariffs, which have been the subject of repeated announcements and reversals since Inauguration Day. To make matters worse, worrisome new economic data pointing to a consumer spending slowdown has reignited fears of a recession.
The recent downturn has entirely erased the short-lived rally that followed Trump’s November election win.
As of midday Monday, the S&P 500 was down by more than 5% since the start of the year, while the Nasdaq is down by more than 11%. The Dow Jones Industrial Average, meanwhile, is down 2% since the start of the year.
The sell-off continues as Trump is pushing for even more tariffs come Wednesday—a day that he has billed as “Liberation Day” for the U.S. economy.
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