S&P 500 Index fell 0.23% on Monday

US President Donald Trump's tariff policies kept the market in a state of high volatility on Monday, according to Reuters. The Dow Jones Index fell 0.91%, and the S&P 500 Index declined 0.23%, capping off a tumultuous session marked by fears of slowing US economic growth and rising inflation. In contrast, the Nasdaq bucked the trend, rising 0.10%. The Cboe Volatility Index surged to its highest level in five years.

As noted by the agency, Trump's refusal to ease trade restrictions sparked turmoil in global markets. Consequently, the S&P 500 index fell 20% below its record closing level, entering bear market territory. It has plummeted 10.5% since the tariffs were announced, translating to a staggering $5 trillion in lost market value.

This week, investors will focus on speeches from the US Federal Reserve and upcoming economic data for signs of a recession, according to analysts at the agency.