US stock market closed mostly lower on Monday amid heightened volatility, weighed down by growing concerns over a potential economic slowdown and rising inflation due to President Donald Trump’s tariff policies. Investor sentiment was further dampened by his warning of additional tariffs on Chinese imports.

The Dow Jones Industrial Average plunged 349.26 points, or 0.91%, to 37,965.60, while the S&P 500 declined 11.83 points, or 0.23%, to 5,062.25. The Nasdaq Composite closed 15.48 points, or 0.10%, higher at 15,603.26.

In the two days following President Trump’s tariff announcements last week, the benchmark S&P 500 index plunged 10.5%, erasing approximately $5 trillion in market value — marking its steepest two-day decline since March 2020.

By Friday, the blue-chip Dow Jones Industrial Average had officially entered correction territory, falling more than 10% from its record close in December. Meanwhile, the tech-heavy Nasdaq confirmed it had entered a bear market, having dropped over 20% from its previous record high.

Declining issues outnumbered advancers by a 4.45-to-1 ratio on the NYSE where there were 42 new highs and 2036 new lows. On the Nasdaq, 1,447 stocks rose and 3,070 fell as declining issues outnumbered advancers by a 2.12-to-1 ratio, Reuters reported.

The S&P 500 posted no new 52-week highs and 168 new lows while the Nasdaq Composite recorded 10 new highs and 999 new lows.

Among individual stocks, Apple shares declined 3.7%, Tesla share price fell 2.6%. Nvidia stock price gained more than 3%, and Amazon.com share price rose 2.5%.

Intel shares dipped 1.41% and Advanced Micro Devices shares dropped 2.47%. Broadcom stock price rallied 5.37%.

(With inputs from Reuters)

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