S&P 500 Down 5.8% in March as Tariff Battle Intensifies
The S&P 500 suffered a 5.8% decline, making March the stock market index’s worst month since December 2022, when the Federal Reserve Board initiated a series of interest rate hikes to slow inflation. The Nasdaq (-8.2%) and Dow (-4.2%) also fell last month.
Analysts within and outside the automotive industry have warned that Trump administration trade policies, which rely heavily on tariffs to raise the price of imported good, will have negative short-term effects on the U.S. economy.
Barring unforeseen developments, new 25% tariffs on imported new vehicles and many auto parts will go into effect this week. Additional “reciprocal” tariffs targeting “all countries” will be announced Wednesday, President Donald Trump said over the weekend.
