S&P 500 closes higher Monday after briefly touching six-month low:
The S&P 500 staged a late-day rebound on Monday, closing 0.55% higher after briefly falling to a six-month low earlier in the session as investors braced for potential new tariffs from former President Donald Trump. While the Dow Jones Industrial Average jumped 1%, the tech-heavy Nasdaq Composite slipped 0.14%, dragged down by declines in AI-linked stocks like Nvidia and Tesla. Market sentiment remained fragile due to fears that Trump’s proposed "reciprocal tariffs," set to be unveiled Wednesday, could slow economic growth especially after a weak Q1 GDP estimate of just 0.3%. The rally in defensive stocks like Coca-Cola contrasted with another tough month for tech, capping a turbulent quarter that saw the S&P 500 drop 5.8% in March, its worst monthly performance since late 2022.