Wall Street sell-off worsens over economic and tariff concerns
Wall Street's sell-off is deepening as concerns about the economy and President Trump's tariffs grow. The S&P 500 fell 1.4%, while the Dow Jones dropped 430 points, marking a significant decline from last month's record highs. The U.S. economy shows signs of weakening, with surveys indicating increased pessimism. The Federal Reserve Bank of Atlanta suggests the economy may be shrinking. Tariffs on steel and aluminum imports are set to take effect Wednesday. Big Tech stocks are particularly affected, with Nvidia down 18.3% this year and Apple falling 3.2%. Investors are shifting to U.S. Treasury bonds for safety, causing bond prices to rise and yields to drop.