The three major U.S. stock indexes opened sharply lower on Monday morning amid ongoing White House negotiations on tariffs and as President Donald Trump again called on the Federal Reserve to lower interest rates.
As of 10:30 a.m. ET, the Dow Jones Industrial Average traded more than 700 points lower, or about 2 percent down. The Nasdaq dropped by 2.7 percent, or more than 400 points, and the S&P 500 shed 2.1 percent. Wall Street’s “fear gauge,” the CBOE Volatility Index, was up around 12 percent, too.
On Monday morning, Trump wrote in a post on Truth Social that the Federal Reserve needs to make “preemptive cuts” in interest rates because inflation on energy, food prices, and other costs are “trending down.”…