U.S. markets suffered a steep selloff Monday as President Donald Trump announced sweeping new tariffs, extending last week’s losses and driving declines across all major sectors.
What Happened: The S&P 500 tracked by The SPDR S&P 500 (NYSE: SPY) closed at 5,849.72, sinking 1.76%, continuing its retreat from 5,983 on Feb 24. The Nasdaq-100 monitored by Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) fell to 20,425.58, down from 21,352 a week earlier, marking a significant correction from recent highs.
Technology stocks bore the brunt of the selloff, with NVIDIA Corp. (NASDAQ:NVDA) plummeting 8.63% and ARM Holdings (NASDAQ:ARM) dropping 8.05%. The sector’s decline follows a brutal week where AppLovin (NASDAQ:APP) had already lost 20.64% and Super Micro Computer (NASDAQ:SMCI) fell 19.67% between Feb. 24-28, according to data from Benzinga Pro.
However, some stocks showed positive performance amid the broader market selloff, according to the Benzinga Stock Heat Map.
In chemicals and allied products, Eli Lilly & Co. (NYSE:LLY) gained 0.83%, while Procter & Gamble Co. (NYSE:PG) and …
