U.S. stocks declined on Monday as the potential for tariffs against Mexico and Canada resurfaced, while investors braced for this week’s earnings report from Nvidia (NVDA).
The Dow Jones Industrial Average (^DJI) showed little movement, whereas the S&P 500 (^GSPC) dropped by 0.5%.
The Nasdaq Composite (^IXIC), which is heavily weighted in technology, decreased by 1.2%, driven down by declines in Microsoft (MSFT), Nvidia (NVDA), and Amazon (AMZN).
Selling pressure increased in the final hour of trading after President Trump announced that tariffs on Mexico and Canada would proceed after the one-month delay concludes next week.
“The tariffs are on track and will be implemented as scheduled,” Trump informed reporters on Monday afternoon.
Meanwhile, attention is focused on Nvidia, the leader in AI chips, as it prepares to release its quarterly earnings on Wednesday after the market closes. Nvidia’s stock finished the day lower.
On Monday, shares of Apple (AAPL) saw a slight increase following the announcement of a $500 billion investment plan in the U.S. over the next four years, which includes a new manufacturing facility in Houston and the creation of 20,000 jobs.
