Wall Street swings in and out of red as turmoil from US president’s assault on world trade enters second week

Summary

Global markets plunged Monday as Trump doubled down on sweeping tariffs, calling them economic “medicine” despite warnings of serious fallout.

Wall Street saw wild swings, with the S&P 500 briefly entering bear market territory before closing down 0.2%.

Trump rejected a proposed 90-day pause on tariffs and threatened China with an additional 50% levy.

Economists and CEOs warned of rising inflation, a weakening dollar, and a looming recession.