The stock market was mixed entering the final hour of trading on Monday in what’s been a choppy session amid concerns about the impact of President Donald Trump’s plans for tariffs.
The Dow was up 42 points, or 0.1%, with an hour to go in the trading day. The S&P 500 was down just 0.3%. The Nasdaq Composite was down 0.7%.
Trump’s plans to put 25% tariffs on Canada and Mexico starting on Tuesday sent the stock market sliding to start the day. Many on Wall Street were holding out hope that Trump would walk back or delay the tariffs because of their potential to hamper economic growth and raise prices for consumers, but the White House reaffirmed Trump’s plans over the weekend.
The Dow recovered from a 600 points slide this morning after Trump said he’d delay tariffs on Mexico by a month following a call with Mexican President Claudia Sheinbaum Pardo. Mexico will send troops to prevent drug trafficking at the border, and officials from both countries will discuss a potential pact over the next month.
Trump said on Truth Social he would speak with Canadian Prime Minister Justin Trudeau at 3 p.m. ET. Wall Street will want to see a similar deal with Canada, if not a full truce on trade.