By Heard Editors
What Happened in Markets Monday
Stocks had one of their worst days this year. As a new round of tariffs appear set to kick off, major stock indexes tumbled on Monday. The Dow Jones Industrial Average shed almost 650 points, and the S&P 500 and Nasdaq Composite fell 1.8% and 2.6%, respectively.
Trump's tariff decision came down to the wire. With a Tuesday deadline looming for the start of 25% levies on imports from Canada and Mexico, it was not until late on Monday that President Trump finally seemed to confirm they would be going forward.
The bond market rallied again. This anxiety was a benefit to U.S. Treasurys, a traditional safe haven for investors. Yields on benchmark 10-year notes ended the session at 4.178%, the lowest closing level of the year.
The idea of a crypto stockpile was met with a shrug. President Trump over the weekend said he was pushing ahead with a plan to strategically purchase crypto assets such as bitcoin. Yet the digital asset erased most of its Sunday rally gains on Monday.
Kroger's chief executive resigned. Shares of the national grocery chain fell 3%. The company unexpectedly announced that its CEO was leaving, following an unspecified probe into his personal conduct.
European defense stocks surged. France and the U.K. push's to forge a peace plan for Ukraine is fueling expectations of higher military spending.
This analysis comes from the Journal's Heard on the Street team. Subscribe to their free daily afternoon newsletter here.
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(END) Dow Jones Newswires
March 03, 2025 17:00 ET (22:00 GMT)
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