The S&P 500 was 0.9% lower in early trading. The Dow Jones Industrial Average was down 418 points, or 0.9%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.8% lower. The pain on Wall Street was widespread, and everything from AI darling Nvidia to staid utilities like Duke Energy to bitcoin fell.

US stocks reversed early gains to end lower on inflation fears and Trump's latest tariff threats. Chances drop for Fed rate cut. Bond yields rise.

NEW YORK (AP) — The threat of a punishing trade war sent Wall Street on a roller coaster Monday. After initially falling sharply on worries about President Donald Trump’s tariffs, U.S. stocks pared their losses after Mexico said it had negotiated a one-month reprieve.