U.S. stocks tumbled as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking up the traditional order.
The S&P 500 fell 2.4 percent Monday and was 16 percent below its record set two months ago. The Dow Jones Industrial Average dropped 2.5 percent, and the Nasdaq composite sank 2.6 percent.
Big Tech stocks led the way lower ahead of earnings reports coming this week from Tesla and others. Perhaps of more concern, U.S. government bonds and the value of the U.S. dollar also sank.
On Monday:
The S&P 500 fell 124.50 points, or 2.4 percent, to 5,158.20.
The Dow Jones Industrial Average fell 971.82 points, or 2.5 percent, to 38,170.41.
The Nasdaq composite fell 415.55 points, or 2.6 percent, to 15,870.90.
The Russell 2000 index of smaller companies fell 40.30 points, or 2.1 percent, to 1,840.32.
For the year:
The S&P 500 is down 723.43 points, or 12.3 percent.
The Dow is down 4,373.81 points, or 10.3 percent.
The Nasdaq is down 3,439.89 points, or 17.8 percent.
The Russell 2000 is down 389.84 points, or 17.5 percent.
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