Stock market today: Dow falls 800 points, S&P 500, Nasdaq slide as Trump's latest tariff salvo reverberates through markets

February 24, 2026 - 06:05

Wall Street opened the week with a sharp sell-off, as former President Donald Trump's renewed push for aggressive import taxes sent shockwaves through financial markets. The Dow Jones Industrial Average plunged over 800 points, while the S&P 500 and Nasdaq Composite also posted steep losses, reflecting a broad-based retreat from risk.

The downturn was triggered by Trump's latest tariff salvo, proposing a blanket 10% levy on all U.S. imports and a staggering 60% or more on goods from China. This announcement reverberated through global trade desks, raising alarms about potential inflation, disrupted supply chains, and a slowdown in economic growth. Investors, already parsing mixed corporate earnings, swiftly moved to price in the increased likelihood of renewed trade wars should Trump return to office.

Compounding the day's tense atmosphere, a separate ruling from the Supreme Court was swiftly refuted by the former president, contributing to a climate of political and policy uncertainty. This combination of factors overwhelmed any positive momentum, driving a flight to safety. The dramatic drop underscores how sensitive markets remain to trade policy and the looming electoral landscape, with volatility expected to remain elevated as the proposals are debated.