US stocks enter bear market territory as tariff misery continues on Wall Street

[LetMyPeopleVote]

Source: CNN

US stocks opened lower Monday as markets around the world tumbled over concerns about how President Donald Trump’s sweeping tariffs might upend the global economy and stymie US economic growth.

Markets opened in bear market territory – a decline of 20% from a recent peak – after a historic rout in Asia and massive losses in Europe.

The Dow fell 1,200 points, or 3.2%. The broader S&P 500 was 3.4% lower and opened in bear territory. The Nasdaq Composite slid 3.96%. The S&P 500 hit a record high less than seven weeks ago, on February 19. If the index closes in bear market territory, that would be the second-fastest peak-to-bear market shift in history (the fastest occurred during the 2020 pandemic).

.....Trump and his tariffs have taken a bull stock market and are on the precipice of turning it into a bear faster than any president has overseen in modern history. If the stock market closes in bear territory, it would be the earliest in a new administration a bull market has turned into a bear in the history of the S&P 500, which dates back to 1957.

Read more: https://www.cnn.com/2025/04/07/investing/us-stock-market-dow-tariffs

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Link to tweet

[PSPS]

2. LOL. Coinbase? LOL.

[progree]

3. Astonishingly, the market is up at the moment, 1022 AM ET Dow up 395 points, S&P 500 up 3.30%

I watched the opening when the S&P 500 opened at 4906, now its 5245 (it closed Friday at 5074)
https://www.investing.com/
https://www.finance.yahoo.com

Dead cat bounce?

Edited 1029 AM ET
It's back down!
Then it's back up 3 minutes later. I think something might be wrong with investing.com -- anyway it says its at 5037 now, whatever
"Up" and "Down" meaning compared to Friday's 5074 close

Here's a clearer graph:
(this one said it opened at 4953.79, whatever. At least it agrees with the previous close of 5074). Anyway it shows the big jump and drop, proving I'm not crazy(?)

ETA Don't PPR me yet, even the AP says --

Stocks turn positive on Wall Street in a sudden reversal and the Dow jumps 300 points erasing a loss of 1,700 (story is date-timed 1021 AM ET)
https://finance.yahoo.com/news/stocks-turn-positive-wall-street-142138116.html

Right now 1049 AM ET I have Dow down 1.58% and S&P 500 down 1.04% (compared to Friday's close)

[PortTack]

4. Not really versed in stock market jargon, but I think this is called "the dead cat bounce."

In others words, the cat is still dead….

[LetMyPeopleVote]

6. This was based on false rumor that trump would suspend tariffs for 90 days

That rumor was false and stocks are back down

[Javaman]

7. think of this as an effort by the rich to "fix" things aka another angle on pump and dump.

it won't last.

on edit: and sure enough it hasn't.

that cat is still dead.

[twodogsbarking]

5. Trump just announced he was renaming Monday to Tariffday. That will fix things.