S&P 500 falls after wild ride as Trump digs in on trade

U.S. stocks briefly rally, but White House denies report of 90-day tariff pause

U.S. stocks opened sharply lower on Monday following a selloff in Asia as President Donald Trump's tariffs deepened concerns about the global economy. © Reuters

April 7, 2025 22:50 JST

Updated on April 8, 2025 05:55 JST

(Reuters) -- The S&P 500 closed lower on Monday after a roller coaster session, with investors worried about an economic slowdown and rising inflation as U.S. President Donald Trump dug in his heels on tariffs, warning he could further increase levies on China.

Wall Street equities have been hammered since Trump's sweeping tariffs, announced late Wednesday, on all imports into the U.S. and much higher levies on some major trading partners.