(Reuters) – The New York Stock Exchange opened on Monday following Donald Trump’s comments on commercial customs duties, “drugs” that he does not intend to give up.

In the first exchanges, the Dow Jones index loses 1,191.59 points, or 3.11%, at 37,123.27 points and the Standard & Poor’s 500, wider, falling more than 20% compared to the February closure peak, drops from 3.36% to 4,903.71 points.

The Nasdaq Composite gives in 3.90%, or 608.53 points, to 14,979.26 points.

The main stock market indices fall on Monday, while the American president has not so far shown no signs of relaxation in his trade war.

The VIX volatility index, which measures the anticipated volatility level of the S&P 500 index for the next 30 days, jumped up to 60 Monday, its highest level from a previous market sales movement last August.

Donald Trump warned foreign governments that they would have to pay “a lot of money” to remove the massive customs duties decided by Washington, saying that he is not concerned about the diving of the financial markets.

Investors believe that the growing risk of recession could lead to the American Federal Reserve (Fed) to reduce its interest rates in May.

“The extent and disruptive impact of American trade policies, if they are maintained, would be sufficient to switch to American and global growth still healthy in the recession,” said Bruce Kasman, head of economic affairs at JP Morgan, estimating the risk of 60%recession.

At the values, Nike fell by 5.69%, the trade war started by Donald Trump with China endangering the economic model of the shoe manufacturer. Apple abandons 5.69 and Tesla loses 10%.

Companies specializing in credit cards also fall. American Express abandoned 4.07%, Mastercard fell by 3.69%and Visa lost 4.13%.

(Written by Mara Vîlcu and Diana Mandiá)

Copyright © 2025 Thomson Reuters