Financial Markets Wall Street

U.S. stocks slumped after President Donald Trump ramped up his newest tariffs, while investors continued to punish companies that could be losers in the artificial-intelligence revolution. The S&P 500 sank 1% Monday. The Dow Jones Industrial Average dropped 1.7%, and the Nasdaq composite fell 1.1%. Cybersecurity and software stocks fell to some of the market’s sharpest losses on worries AI-powered rivals could undercut their profits. The U.S. dollar’s value edged lower against other currencies, while gold continued to rise as Trump’s latest tariff move raised uncertainty. Bitcoin briefly fell below $64,000 but remained above its low point reached earlier this month. Treasury yields sank.

U.S. stocks sank as Wall Street kept punishing companies that could become losers in the AI revolution. A surprisingly discouraging update on inflation also hurt the market Friday, while oil prices climbed with worries about tensions between the United States and Iran. The S&P 500 fell 0.4% to finish just its second losing month in the last 10. The Dow Jones Industrial Average dropped 1.1%, and the Nasdaq composite fell 0.9%. Block’s stock soared after cutting nearly half its workforce because it said AI tools can replace them. Treasury yields fell in the bond market as investors sought safer places for their money.