Stock market today: Dow sinks 350 points, S&P 500 falls for third day as tariffs send stocks on roller coaster

US stocks whipsawed on Monday during a chaotic trading session that saw multiple headlines push around a jumpy market.

In the end, the indexes were little-changed with S&P 500 (
^GSPC
) falling 0.2%, its third consecutive day of losses as the benchmark index inched closer toward bear market territory. The tech-heavy Nasdaq Composite (
^IXIC
) rose 0.1% after erasing losses and gains numerous times throughout the session. The Dow Jones Industrial Average (
^DJI
) was the biggest loser, falling 350 points, or around 0.9%.

The White House poured cold water on a rumor that Trump was considering a 90-day pause on implementing the tariffs, sparking the first green turn of the day.

In the latest escalation of his trade war, President Trump threatened China with an additional 50% tariff starting on April 9 if Beijing did not remove 34% levies on US imports.

Monday’s volatile trade came on the heels of a historic two-day sell-off, with the Nasdaq Composite
entering a bear market on Friday
and the US stock market shedding over $5 trillion in value.

Key Wall Street figures on Monday
began speaking out against the tariffs
.

JPMorgan (
JPM
) CEO Jamie Dimon warned of slower growth and higher inflation, and BlackRock (
BLK
)
CEO Larry Fink said
it was likely that the tariffs had already pushed the economy into recession.

Billionaire investor Bill Ackman, a Trump backer, urged the administration to freeze tariff plans to give room for negotiations.

But Trump’s closest council gave no indication of walking back tariffs. In
a Financial Times op-ed
published Monday afternoon, White House trade adviser Peter Navarro said the Trump administration said the policy is “not a negotiation.”

Read more: Live updates on Trump tariffs fallout

LIVE COVERAGE IS OVER


35 updates