Stocks fell on Wall Street Monday, ahead of President Donald Trump’s latest deadline on tariffs. The S&P 500 was 1% lower in afternoon trading. The Dow Jones Industrial Average was down 402 points, or 0.

U.S. stocks face a tenuous moment with the arrival of President Donald Trump's latest tariffs. The benchmark S&P 500 is down about 5% from its February 19 all-time closing high as a series of weakening U.

A private survey showed American factory activity last month edged closer to stagnation—slowing growth combined with faster inflation—as new orders and employment contracted. A gauge of prices paid for materials jumped to the highest since June 2022. So how should investors react to all this smoke on the horizon?