Dow tumbles 800 points as sell-off intensifies following Trump's confirmation of tariffs on Mexico and Canada: Live updates

Dow tumbles 800 points as sell-off intensifies following Trump's confirmation of tariffs on Mexico and Canada: Live updates

The S&P 500 retreated on Monday, extending February’s rout and turning red for the year after President Donald Trump’s confirmation of forthcoming tariffs ratcheted up economic concerns.

The S&P 500 fell 2.1%, bringing its year-to-date performance to a loss of nearly 1%. The Dow Jones Industrial Average dropped 789 points, or 1.8%. The Nasdaq Composite slid 3%, weighed down by Nvidia’s decline of more than 9%.

All three indexes traded higher earlier in the session, with the Dow at one point up nearly 200 points. Stocks took a notable leg down in afternoon trading following Trump’s reiteration that 25% levies on imports from Mexico and Canada would go into effect on Tuesday, dashing investors’ hopes of a last-minute deal to avert the full tariffs on the two U.S. allies.

“No room left for Mexico or for Canada,” Trump said alongside Commerce Secretary Howard Lutnick from the White House. “Reciprocal tariffs start on April 2 ... but very importantly, tomorrow, tariffs, 25% on Canada and 25% on Mexico, ... will start.”