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February 24, 2026

Stocks drop after Trump ramps up his tariffs, investors dump potential AI losers

By STAN CHOE
AP Business Writer

NEW YORK — U.S. stocks slumped Monday after President Donald Trump ramped up his newest tariffs, while investors continued to punish companies that could be losers in the artificial-intelligence revolution.

The S&P 500 fell 1% after Trump said on Saturday that he would place temporary 15% tariffs on other countries. That's up from the 10% rate he announced Friday following a Supreme Court ruling that struck down his sweeping “reciprocal” taxes on imports from around the world.


 
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