President Donald Trump's tariffs are about to take effect as Wall Street enters a new quarter. Because of this, traders are tense, and US stocks have had their biggest first-quarter decline in years. Because of the uncertainty surrounding Trump's tariff measures, Wall Street has been racked by volatility this year. It is the worst start since 2022 and the worst quarter since September 2022 for the benchmark S&P 500 index, which is down 4.6% for the year.

Monday's afternoon rise by traders left US equities neutral. After starting the day down, the Dow reversed course and ended the day up 418 points, or 1%. The S&P 500 saw a 0.55% increase. After plunging as much as 1.65% Monday morning, the benchmark index temporarily returned to correction territory and fell to its lowest level since September before rising back into the green in the afternoon. After plunging 2.7% in morning trade and reaching its lowest level since September, the Nasdaq fell 0.14% to pare losses. US markets rose Monday, but global stocks fell ahead of Trump's alleged "Liberation Day" on Wednesday, when reciprocal tariffs and other measures are expected to be announced. The broad tariffs are expected to slow economic development and increase inflation, according to economists.

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Wall Street is fed up with Trump’s tariffs. Stocks are off to their worst start to a year since 2022