The S&P 500 tumbled into dreaded bear market territory on Monday
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- The S&P 500 briefly entered bear market territory on Monday, down 20% from recent highs.
- Stocks have cratered since Wednesday's tariff announcement, with the selling continuing on Monday.
- The Nasdaq-100 ended Friday's session in a bear market.
The S&P 500 briefly entered bear market territory on Monday amid the Trump tariff chaos.
A bear market is defined as a 20% decline from a record high on a closing basis. The S&P 500 peaked at 6,144 on February 19, putting the bear market "line in the sand" for the benchmark index at about 4,915.
The S&P 500 pared losses in afternoon trading to close 0.2% lower.
The S&P 500 opened 4% lower on Monday, with investors uninspired by the mixed messaging from White House officials over the weekend.
While Kevin Hassett, President Donald Trump's director of the National Economic Council, discussed in an interview over the weekend the potential for negotiations, Commerce Secretary Howard Lutnick said the tariffs were here to stay.
The S&P 500 traded down to 4,870 shortly after the opening bell on Monday, down 21% from its record high. The tech-heavy Nasdaq-100 officially entered a bear market on Friday.
Data from Michael Reinking, a senior market strategist at the New York Stock Exchange, shows this is the second-fastest bear market in history, behind only the March 2020 pandemic bear market.
The biggest stock losers on Monday included:
- Robinhood: minus 10.5%.
- Strategy (formerly MicroStrategy): minus 11.6%.
- Palantir: minus 7.4%.
- AT&T: minus 5.9%.
- Nvidia: minus 5.9%.
- Walmart: minus 2.1%.
- Tesla: minus 8.4%.