US stocks close mixed ahead of Trump tariff announcement

By Gokhan Ergocun

ISTANBUL (AA) – US stocks ended mixed Monday ahead of President Trump’s midweek announcement on reciprocal tariffs.

Uncertainty over the Trump administration's tariff policy and concerns that tariffs could negatively affect the economy continued.

Trump has promised to reveal a massive tariff plan Wednesday which he has described as “Liberation Day” that will target all countries from the start.

“You’d start with all countries,” he told reporters Sunday on Air Force One. “So let’s see what happens. There are many countries.”

There is “not a cut off,” he added.

Press reports said Trump is pushing his administration to be more aggressive with its tariff plan.

While risk perception increased following his latest remarks on reciprocal tariffs, the US 10-year bond yield fell to around 4.2%.

While there were concerns that Trump's tariffs could fuel inflationary pressures and damage economic growth, the verbal guidance of officials of the US Federal Reserve was closely monitored before Fed Chairman Jerome Powell's statements on the economic outlook on Friday.

New York Fed President John Williams said there is still a lot of uncertainty about tariffs and that he wants to follow the data to see how they affect prices.

The Dow Jones Industrial Average rose 1%, or 417.86 points, to end the day at 42,001.76.

The S&P 500 increased by 0.55%, or 30.91 points, to 5,611.85, while the Nasdaq Composite was off 0.14%, or 23.70 points, to 17,299.29.

The VIX Index, also known as the “fear index,” rose 2.91% to 22.28.