US Stocks Erase Losses as Trump’s Tariffs Keep Markets on Edge

US stocks swung wildly Monday, with the S&P 500 Index staging a stunning turnaround to erase a steep drop, as a push into dividend-heavy shares and portfolio rebalancing temporarily overshadowed worries about President Donald Trump’s Wednesday tariff announcement.

The benchmark equities gauge, after tumbling as much as 1.7%, finished nearly 0.6% higher marking its biggest top-to-bottom intraday reversal in three weeks, with analysts pointing to technical factors like the portfolio shifts that occur at the quarter’s end. That said, the S&P 500 still posted its worst quarter compared with the rest of the world the since the global financial crisis to cap a tempestuous start to the year as escalating concerns about a trade-war fueled recession.