The Dow Jones Industrial Average ended down 249.07 points, or 0.55% to close at 45,295.81. The S&P 500 dropped 0.69% to settled at 6,415.54, while the Nasdaq Composite slid 0.82% to close at 21,279.63.
Investors took profits on bull market winners with the unofficial end of the summer season. Nvidia shares, for example, closed down about 2%, while other Big Tech names like Amazon and Apple shed around 1%.
The moves come after a federal appeals court on Friday ruled that most of Trump’s global tariffs are illegal. The U.S. Court of Appeals for the Federal Circuit determined in a 7-4 ruling that only Congress has the authority to apply sweeping levies. Trump called the decision “Highly Partisan” and has said that he will appeal the ruling to the U.S. Supreme Court.
Investors were also eying a surge in bond yields to start September. The 10-year Treasury yield jumped to 4.27%, while the 30-year yield topped 4.97%.
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
