NEW YORK (AP) — U.S. stocks experienced a downturn on Monday, reversing some of their recent gains, as investors brace for potential market volatility later in the week. The S&P 500 fell 0.8% in afternoon trading, breaking a four-day winning streak. The Dow Jones Industrial Average dropped 145 points, or 0.4%, and the Nasdaq composite was down 1.1%. This follows weeks of historic market swings driven by uncertainty over President Donald Trump’s trade policies. Many investors fear that Trump’s tariffs could lead to a recession if not addressed. Tech giants such as Amazon, Microsoft, Meta Platforms, and Apple are set to report earnings this week, and their recent weakness has weighed on the market. Executives from Caterpillar, Exxon Mobil, and McDonald’s will also provide insights into economic conditions. Economic reports suggest that the U.S. economy is still growing, albeit at a slower pace. A report on U.S. economic growth is expected to show a slowdown to a 0.8% annual rate in the first quarter of this year. Consumer confidence surveys indicate growing pessimism due to tariffs. In the bond market, Treasury yields declined slightly, with the 10-year Treasury yield falling to 4.22% from 4.29%. Stock markets abroad showed mixed results.
— new from AP News
