The tech-heavy Nasdaq finished the session down 235.49 points (1.2%) at 19,391.96. The S&P 500 also slid 45.96 points (0.8%) to 5,994.57 while the Dow fell 122.75 points (0.3%) to 44,421.91.
Stocks rebounded after Trump paused tariffs on Mexico for a month, with Mexico deploying 10,000 guards to curb fentanyl trafficking. Trump also threatened tariffs on the UK and EU, leading to retaliatory tariffs from Canada, Mexico, China and the EU.
Computer hardware stocks ended the day significantly lower, dragging the NYSE Arca Computer Hardware Index down by 2.6%. Considerable weakness also remained visible among housing stocks, as reflected by the 2.4% slump by the Philadelphia Housing Sector Index. Airline, semiconductor and banking stocks too were notably weak while gold stocks moved higher along with the price of the precious metal.
Asia-Pacific moved mostly lower during trading on Monday. Japan's Nikkei 225 Index plunged by 2.7%, while Australia's S&P/ASX 200 Index tumbled by 1.8%. The major European markets notably moved downwards. While the German DAX Index tumbled by 1.4%, the French CAC 40 Index slumped by 1.2% and the U.K.'s FTSE 100 Index slid by 1%.
In the bond market, treasuries gave back ground after an early advance but remained in positive territory. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, dipped 2.6 bps to 4.54%.