Dow Jones Slumps Amidst Trump-Xi Call, EU Weighs Retaliation

Trade policy uncertainty weighed heavily on the U.S. stock market Monday, June 2nd, with the Dow Jones experiencing a 194 point drop (0.46%) to close at 42,075. The S&P 500 and Nasdaq saw mixed performance, with the latter showing gains. The EU also issued warnings of potential retaliatory tariffs against the U.S. following new steel and aluminum tariffs imposed by President Trump. 200 point loss on the Dow is partly attributed to the uncertainty surrounding trade negotiations between the U.S. and China.