On Monday, the stock market went down because of news about tariffs. President Trump said there will be 25% tariffs on imports from Mexico and Canada. This made investors worried and the stock market dropped. The S&P 500, Dow Jones, and Nasdaq all fell. Technology and small companies were affected too. Stocks like Nvidia, Broadcom, and Super Micro Computer went down. Even the Russell 2000, which focuses on small companies, dropped.
Companies like GM and Ford, which might be affected by the tariffs, also saw their stock prices go down. Economists are concerned about the impact of these tariffs on the economy. In February, the stock market had already seen losses because of worries about tariffs and a weaker economy. Economic data released on Monday showed more concerns about the U.S. economy. This week, more economic data will be released, and on Friday, the February jobs report will come out, which is important for the economy.
Vocabulary List:
- Tariffs /ˈtær.ɪfs/ (noun): Taxes imposed by a government on imported goods.
- Investors /ɪnˈvɛstərz/ (noun): Individuals or entities that allocate capital with the expectation of a financial return.
- Economists /ɪˈkɒn.ə.mɪsts/ (noun): Experts who study the production distribution and consumption of goods and services.
- Concerns /kənˈsɜrnz/ (noun): Worries or anxieties regarding a particular issue.
- Dropped /drɒpt/ (verb): To fall or decrease sharply in value or amount.
- Released /rɪˈliːst/ (verb): To make something available for use or publication.
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