NEW YORK (AP) — U.S. stocks are falling as investors worldwide pull away from the United States because of the uncertainty caused by President Donald Trump’s trade war. The S&P 500 was 1% lower in early trading Monday and 14.9% below its record set two months ago.

The Dow Jones Industrial Average was down 287 points, and the Nasdaq composite was 1.4% lower. Treasury bonds and the value of the dollar also sank as a retreat continues from U.S. markets.

Worries are also hanging over the market about Trump’s anger at Federal Reserve Chair Jerome Powell. Trump last week criticized Powell again for not cutting interest rates.

Originally Published: April 21, 2025 at 9:46 AM EDT