The stock market’s tariff selloff picked back up on Monday after Wall Street strategists rushed to cut expectations for stocks amid worries President Donald Trump won’t back down on trade.
The Dow Jones Industrial Average sank another 1,400 points, or 3.6%. The index entered a correction on Friday after falling more than 10% from a recent high. The S&P 500 slid 4%, below the 4,915.32 level that would put the index in a bear market. The Nasdaq Composite, which entered a bear market on Friday, was down another 4.7%.
The S&P 500, down 14.4% since its close on Wednesday, is on track for its largest three-day decline since Oct. 20, 1987, according to Dow Jones Market Data. The Nasdaq is down 15.6% in that stretch, which would be its worst three-day decline since April 14, 2000.