Tariffs and Stocks: A Rollercoaster Ride on Wall Street

The S&P 500 fell on Monday, breaking a nine-day winning streak. This drop followed President Trump's announcement of a 100% tariff on non-U.S. movies and ahead of the Federal Reserve's policy decision. Market volatility continues amid concerns over tariffs, corporate profitability, and future interest rate cuts.

The S&P 500 halted its longest winning streak in two decades on Monday, as investors digested President Trump's new tariff announcement, targeting international movie productions, prior to the Federal Reserve's anticipated policy decision this week.

Despite the turbulence, Treasury Secretary Scott Bessent remains optimistic about Trump's economic policies, suggesting they could foster long-term investments in the U.S. Nevertheless, investment strategist Art Hogan warns of the need for tangible deals to avoid economic repercussions.

In addition to stock declines in the entertainment sector, significant losses were seen across various indices and sectors, alongside speculation about Federal Reserve policy actions and concerns over tariff impacts on corporate profits.

(With inputs from agencies.)