Summary
Maybe Monday will become the most volatile day of the trading week, although any day can be crazy of late with the amount of news hitting the tape. Stock futures were hammered Sunday night after the Trump administration confirmed tariffs on Mexico, Canada, and China. The market knew this was likely, but the timing was uncertain. S&P futures traded as low as 5,935.50 on Sunday night, but prices stabilized during regular stock-market trading hours on Monday, and recovered over the course of the session, almost reaching 6,050 in the late-afternoon trade. The S&P 500 (SPX) was as low as 5,924 (down 117 points from Friday's close) and as high as 6,022. The index finished the day at 5,995. The trillion-dollar club had a rough day and weighed heavily on the major indices as well as their sectors and industries. Information Technology (XLK) and Consumer Discretionary (XLY) were the weakest sectors, both falling 1.3%. IT was hurt by AAPL (-3.4%) in hardware, as well as NVDA (-2.8%), TSM (-4.3%), and AVGO (-1.5%) in semiconductors. The XLY was dragged down by TSLA's 5% drop. When five trillion-dollar companies are weak, it's hard on the major indices. Those
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