US stocks closed slightly lower after a day of wild swings on Wall Street as traders remained fixated on Donald Trump’s tariffs on the country’s trading partners.
The blue-chip S&P 500 lost 0.2 per cent, extending a historic sell-off at the end of last week that was sparked by the president’s so-called liberation day tariffs on US imports and concerns the levies will damage the global economy. The tech-heavy Nasdaq Composite inched up 0.1 per cent as chipmakers including Nvidia and Broadcom climbed.
The volatility on Wall Street came after Trump on Monday threatened additional 50 per cent tariffs on China if Beijing does not withdraw its retaliatory levies on Washington by Tuesday. In contrast, Treasury secretary Scott Bessent later said the US would open trade talks with Japan.