Wall Street followed global markets lower early Monday ahead of the Trump administration’s latest tariff rollout later this week, the Associated Press reports. Futures for the S&P 500 sank 1.2%, while futures for the Dow Jones Industrial Average dropped 0.7%. Futures for the tech-heavy Nasdaq tumbled 1.6%.
Tesla’s woes continued as Elon Musk’s electric car company slid 6.1%. Tesla is down 42% since Trump took office Jan. 20, with losses driven in part by the public perception of Musk’s oversight of the new Department of Government Efficiency, which is slashing government spending.
Apple shares were down less than 1% after France’s antitrust watchdog fined the tech giant $162 million over the rollout of a privacy feature that resulted in abuse of competition law.
Shares of the mortgage company Rocket fell 3.5% after it announced that it is buying competitor Mr. Cooper in an all-stock deal valued at $9.4 billion.
The price of gold hit a record high before inching back down to $3,149 an ounce. Investors continue to pull out of equities in search of traditional safe havens like gold.
