Wall Street Seesaws Amid Tariff Challenges and Economic Data

Wall Street's main indexes experienced a volatile day on Monday. Investors assessed economic data and the impacts of Trump administration tariffs. Retail sales data showed a 0.2% rebound in February, and New York State factory activity plunged. Major tech stocks saw mixed results.

In a day characterized by volatility, Wall Street's primary indexes nudged higher on Monday, as investors grappled with new economic data amidst the looming effects of tariff policies instigated by the Trump administration.

The Commerce Department revealed a slight recovery in retail sales with a 0.2% rise in February, failing to meet the anticipated 0.6% increase, while factory activity in New York State saw its most significant decline in nearly two years. Microsoft and Apple slightly gained, Nvidia and Amazon slipped, and Tesla fell significantly following a price target cut by brokerage Mizuho.

The ongoing tariff discourse and an impending Federal Reserve rate decision kept market players on edge, with Treasury Secretary Scott Bessent cautioning of possible recession risks. The S&P 500 and Nasdaq recorded substantial gains last Friday due to favorable inflation reports, but broader market concerns persisted.

(With inputs from agencies.)