S&P 500 (NYSEARCA: SPY) Live: A Glimmer of Hope After a Record-Breaking Drop
Key Points
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Tariff uncertainty triggers the S&P 500’s steepest two-day decline since the 2020 COVID-19 crash.
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Global markets rebound as the U.S. hints at negotiating tariff reductions, sparking optimism amid trade war fears.
Live Updates
S&P 500 Whimpers Out To Close Trading
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Global markets recover: Stock indexes worldwide rebounded, with Tokyo soaring 6%, Paris jumping 3.4%, and Shanghai edging up 1.6%. Crude oil prices ticked higher after hitting a 2021 low on Monday. European markets posted widespread gains, fueled by optimism that negotiations could still avert the economic fallout from tariffs.
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US trade rep touts tariff impact: U.S. Trade Representative Jamieson Greer told the Senate Finance Committee that “about 50” countries have initiated talks to avoid Trump’s import tariffs. Aimed at shrinking America’s trade deficits, these taxes could prove “challenging at times,” Greer admitted.
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China vows retaliation: Beijing pledged to “fight to the end” and deploy countermeasures to protect its interests after Trump proposed an additional 50% tariff on Chinese goods, escalating tensions in the trade war.
Wild Turn of Events
After opening up 4%, the S&P 500 has dropped $2.5 trillion in market value since 10:30 am. Any whisper of trade agreements or escalation sends the market moving hard in either direction.
Market "Fear" Creeps Back
After the CBOE VIX Index dropped over 12% to start of the trading day, the index shot higher in the afternoon trading session, as it now sits over 48.
The broad market gave up all the gains from earlier today, with the S&P 500 dropping from a high of 5,259 points to 5,059.
Afternoon Market Reversal
The CBOE VIX or Volatility Index, a popular gauge for market fear dropped 12% today, now hovering around 40. Still very much in the “fearful” range, a 12% drop in a one day is a positive reprieve from the past 5 market days.
Sector Performance
Live look at sector performance as of 10:30 am:
Communication Services- +3.23%
Consumer Discretionary- +4.15%
Consumer Staples- +1.55%
Energy- +2.63%
Financials- +4.60%
Health Care- +2.73%
Industrials- +3.36%
Information Technology- +4.97%
Materials- +1.84%
Real Estate- +1.71%
Utilities- +2.30%
The S&P 500 experienced one of the worst stretches in the index’s history driven mainly by President Trump’s escalation of tariffs on China. The market has fallen 17.5% since its high in mid-February but the two day drop starting last Friday through the market close yesterday was the 5th worst stretch in the past 80 years.
Stocks on the move
Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.
He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.
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