The Dow is having its worst day since January 3. The index is down nearly 600 points, falling below 26,000 points.
It's down some 600 points, falling below 26,000 points — its worst day since January 3, when Apple warned it would miss its earnings forecast because of weak iPhone sales in China.The S&P 500 is down 2.1% and the Nasdaq is looking at a 2.4% loss, having fallen below 8,000 points for the first time since April 18.What happened?President Donald Trump on Sunday threatened more tariffs on Chinese imports. That initially dragged markets way down on Monday.
With trade disruption in the rear-view mirror — or so investors thought — the markets instead focused on the Federal Reserve's interest-rate policy and the strong US economy. Between the Fed keeping rates steady, low inflation and strong growth, investors enjoyed a"Goldilocks" market: everything was just right. The S&P 500 and the Nasdaq Composite hit record highs multiple times.
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