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Another volatile day on Wall Street pushed the S&P 500 Index back to the brink of a bear market as the Trump administration doubled down on its plans to enact hefty tariffs that threaten to send the American economy into a recession.

The S&P 500 fell 1.6% in a fourth straight session that has seen moves of at least 4% from peak to trough. The index powered higher by as much as 4% in early trading on optimism that President Donald Trump would negotiate lower rates on key allies.

Meanwhile President Trump’s tariffs are rattling US consumers, who are stocking up on everything from cars to olive oil and iPhones. The behavior offers some good news for businesses that are rushing to figure out how to respond to the upheaval caused by Trump’s global trade war.

Today's show features:

• Swamy Kotagiri, Magna International Chief Executive Officer
• Vincent Cignarella, Bloomberg Markets Live Macro Strategy
• Wendy Schiller, professor of political science at Brown University

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ICYMI: Trillium economist and portfolio manager Cheryl Smith joins to discuss her outlook on Trump's trade war and how long she sees volatility affecting markets.

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Tesla Inc.’s stock extended losses Monday, dropping below a price at which Commerce Secretary Howard Lutnick predicted they’d never fall to again.The shares plunged as much as 9.2% to $217.41 as of 9:41 a.m. in New York, amid a broader selloff in global equity markets. Lutnick said during a Fox News interview on March 19 — when Tesla closed at $235.86 — that viewers should buy the stock, saying “it’ll never be this cheap again.” Chief Executive Officer Elon Musk told Tesla employees the following day that they should hang on to their shares.

Meanwhile waves of volatility shook broader markets anew, with stocks, bonds and commodities getting whipsawed by another deluge of headlines around President Donald Trump’s trade war that only reinforced the clouds hanging over the outlook for investing and the economy.
Traders looking for equities to snap back after a selloff of trillions of dollars were faced with a series of twists and turns on Monday. While the S&P 500 moved away from the threshold of a bear market, its bottom-to-top intraday reversal was the biggest since 2020 when Covid upended global trading. Treasuries weakened, with yields across all maturities higher by over 10 basis points — a stark turnaround from the plunge earlier in the day.
Today's show features:

• Dan Ives, Global Head of Technology Research at Wedbush Securities
• Bloomberg News Equities Americas Team Leader Eric Weiner
• Bloomberg News Cross-Asset Reporter Isabelle Lee

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