Stocks on Wall Street fell sharply on Monday, led by losses across major indices, including the Dow Jones Industrial Average, S&P 500, and Nasdaq. The S&P 500 shed 0.8%, its worst single-day drop since mid-June, while the Dow and Nasdaq both declined 0.9%. Despite the setback, all three indices remained close to their recent record highs.

Despite waffling on the July 9 trade deadline, the Trump administration is back with fresh tariff threats.

The stock market returned on Monday with a bit of a hangover after ending the holiday-shortened week at record levels. The Dow Jones Industrial Average was down 71 points, or 0.2% at the market open.