BETA
THIS IS A BETA EXPERIENCE. OPT-OUT&nbspHERE

Breaking

31 minutes ago
Forbes Recession Tracker: Recession Odds Spike As Trump’s Tariff ‘Liberation Day’ Approaches","scope":{"topStory":{"index":1,"title":"Forbes Recession Tracker: Recession Odds Spike As Trump’s Tariff ‘Liberation Day’ Approaches","image":"https://specials-images.forbesimg.com/imageserve/67ea8b9eddb6c171bd36b99d/290x0.jpg?cropX1=222&cropX2=1048&cropY1=324&cropY2=788","isHappeningNowArticle":true,"date":"31 minutes ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/01/forbes-recession-tracker-recession-odds-spike-as-trumps-tariff-liberation-day-approaches/"}},"id":"dp84n0i7fn4g00"},{"textContent":"
39 minutes ago
Newsmax More Valuable Than Fox After Shares Surge 180%","scope":{"topStory":{"index":2,"title":"Newsmax More Valuable Than Fox After Shares Surge 180%","image":"https://specials-images.forbesimg.com/imageserve/67ec32fcc1b31f6a56040aa2/290x0.jpg?cropX1=0&cropX2=4017&cropY1=0&cropY2=2259","isHappeningNowArticle":true,"date":"39 minutes ago","uri":"https://www.forbes.com/sites/tylerroush/2025/04/01/newsmax-shares-surge-150-after-volatile-ipo-as-market-cap-doubles/"}},"id":"2hc9qpgi8i1800"},{"textContent":"
1 hour ago
Kennedy Fires Thousands Across Health Agencies: Food Regulation, HIV Prevention, Infectious Disease Offices All Affected","scope":{"topStory":{"index":3,"title":"Kennedy Fires Thousands Across Health Agencies: Food Regulation, HIV Prevention, Infectious Disease Offices All Affected","image":"https://specials-images.forbesimg.com/imageserve/62499fdeb85d6719dc85cb1a/290x0.jpg","isHappeningNowArticle":true,"date":"1 hour ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/01/kennedy-fires-thousands-across-health-agencies-food-regulation-hiv-prevention-infectious-disease-offices-all-affected/"}},"id":"5ojf2cdp702g00"},{"textContent":"
2 hours ago
Cory Booker Nears Senate Record—Passing 19 Hours—For Speech Blasting Trump","scope":{"topStory":{"index":4,"title":"Cory Booker Nears Senate Record—Passing 19 Hours—For Speech Blasting Trump","image":"https://specials-images.forbesimg.com/imageserve/67ec331b4e1b9990231b7489/0x0.jpg","isHappeningNowArticle":true,"date":"2 hours ago","uri":"https://www.forbes.com/sites/mollybohannon/2025/04/01/cory-booker-nears-senate-record-passing-19-hours-for-speech-blasting-trump/"}},"id":"dj4gi8ir3ldk00"},{"textContent":"
2 hours ago
Bill Gates’ Daughter Phoebe Launches Podcast Under Alex Cooper’s Unwell Network","scope":{"topStory":{"index":5,"title":"Bill Gates’ Daughter Phoebe Launches Podcast Under Alex Cooper’s Unwell Network","image":"https://specials-images.forbesimg.com/imageserve/67ec2ed8015f34e05a152858/290x0.jpg?cropX1=0&cropX2=3682&cropY1=103&cropY2=2176","isHappeningNowArticle":true,"date":"2 hours ago","uri":"https://www.forbes.com/sites/conormurray/2025/04/01/bill-gates-daughter-phoebe-launches-podcast-under-alex-coopers-unwell-network/"}},"id":"317jecqkk2dk00"},{"textContent":"
2 hours ago
Americans Are Pulling Back On Travel Spending In 2025, New Data Shows","scope":{"topStory":{"index":6,"title":"Americans Are Pulling Back On Travel Spending In 2025, New Data Shows","image":"https://specials-images.forbesimg.com/imageserve/67ec010860b8c16390869ea0/290x0.jpg?cropX1=0&cropX2=4664&cropY1=0&cropY2=2626","isHappeningNowArticle":true,"date":"2 hours ago","uri":"https://www.forbes.com/sites/suzannerowankelleher/2025/04/01/americans-pulling-back-travel-spending-in-2025/"}},"id":"34pla1jkb1l000"},{"textContent":"
3 hours ago
Measles Outbreak: More Than 420 Cases In Texas As Colorado Reports First Infection Since 2023","scope":{"topStory":{"index":7,"title":"Measles Outbreak: More Than 420 Cases In Texas As Colorado Reports First Infection Since 2023","image":"https://specials-images.forbesimg.com/imageserve/67b8dc34f003eb75b733dff5/290x0.jpg?cropX1=0&cropX2=3039&cropY1=0&cropY2=2027","isHappeningNowArticle":true,"date":"3 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2025/04/01/measles-outbreak-more-than-420-cases-in-texas-as-colorado-reports-first-infection-since-2023/"}},"id":"5n6hmoroljpc00"},{"textContent":"
4 hours ago
Tesla Could See Its Worst Quarterly Growth In Years As Deliveries Data Looms","scope":{"topStory":{"index":8,"title":"Tesla Could See Its Worst Quarterly Growth In Years As Deliveries Data Looms","image":"https://specials-images.forbesimg.com/imageserve/67ec1399ab9079224ba76b9d/290x0.jpg?cropX1=0&cropX2=2457&cropY1=27&cropY2=1410","isHappeningNowArticle":true,"date":"4 hours ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/01/tesla-could-see-it-worst-quarterly-growth-in-years-as-deliveries-data-looms/"}},"id":"ck50d5c7bn8000"},{"textContent":"
5 hours ago
Attorney General Bondi Calls For Death Penalty Against Luigi Mangione","scope":{"topStory":{"index":9,"title":"Attorney General Bondi Calls For Death Penalty Against Luigi Mangione","image":"https://specials-images.forbesimg.com/imageserve/67ec0742d8e8e647a9432054/290x0.jpg?cropX1=0&cropX2=2789&cropY1=0&cropY2=1567","isHappeningNowArticle":true,"date":"5 hours ago","uri":"https://www.forbes.com/sites/mollybohannon/2025/04/01/attorney-general-bondi-calls-for-death-penalty-against-luigi-mangione/"}},"id":"5m699cj136m000"},{"textContent":"
6 hours ago
Nike To Settle Sexual Discrimination Lawsuit Hanging Over Its Head Since 2018","scope":{"topStory":{"index":10,"title":"Nike To Settle Sexual Discrimination Lawsuit Hanging Over Its Head Since 2018","image":"https://specials-images.forbesimg.com/imageserve/67ebe6ceee2b02b8e7cd69e7/290x0.jpg?cropX1=0&cropX2=2472&cropY1=127&cropY2=1518","isHappeningNowArticle":true,"date":"6 hours ago","uri":"https://www.forbes.com/sites/pamdanziger/2025/04/01/nike-to-settle-sexual-discrimination-lawsuit-hanging-over-its-head-since-2018/"}},"id":"46nb78bhpi9000"},{"textContent":"
7 hours ago
Trump Approval Rating Tracker: Americans Dissatisfied With Tariffs","scope":{"topStory":{"index":11,"title":"Trump Approval Rating Tracker: Americans Dissatisfied With Tariffs","image":"https://specials-images.forbesimg.com/imageserve/62499fdeb85d6719dc85cb1a/290x0.jpg","isHappeningNowArticle":true,"date":"7 hours ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/01/trump-approval-rating-tracker-americans-dissatisfied-with-tariffs/"}},"id":"bc8kcndfa09k00"},{"textContent":"
7 hours ago
Trump Reportedly Targets 20% Tariffs As Europe Threatens Retaliation: Here’s What To Know As ‘Liberation Day’ Looms","scope":{"topStory":{"index":12,"title":"Trump Reportedly Targets 20% Tariffs As Europe Threatens Retaliation: Here’s What To Know As ‘Liberation Day’ Looms","image":"https://specials-images.forbesimg.com/imageserve/67ebdf0a776f957aefce7a32/290x0.jpg?cropX1=515&cropX2=3110&cropY1=1&cropY2=1462","isHappeningNowArticle":true,"date":"7 hours ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/01/trump-reportedly-targets-20-tariffs-as-europe-threatens-retaliation-heres-what-to-know-as-liberation-day-looms/"}},"id":"f7pg3a3o2gjc00"},{"textContent":"
7 hours ago
Florida’s Special House Elections Today: What To Watch In These Tests Of Trump’s Second Term","scope":{"topStory":{"index":13,"title":"Florida’s Special House Elections Today: What To Watch In These Tests Of Trump’s Second Term","image":"https://specials-images.forbesimg.com/imageserve/67eabf86e9158f8c139bc9b3/0x0.jpg","isHappeningNowArticle":true,"date":"7 hours ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/01/floridas-special-house-elections-today-what-to-watch-in-these-tests-of-trumps-second-term/"}},"id":"9nhrme0l419400"},{"textContent":"
7 hours ago
What To Know About The Switch 2 As Nintendo Readies Its First Console Launch In 8 Years","scope":{"topStory":{"index":14,"title":"What To Know About The Switch 2 As Nintendo Readies Its First Console Launch In 8 Years","image":"https://specials-images.forbesimg.com/imageserve/67ebe2b1c8a5b28326757c06/290x0.jpg?cropX1=0&cropX2=1675&cropY1=86&cropY2=1028","isHappeningNowArticle":true,"date":"7 hours ago","uri":"https://www.forbes.com/sites/siladityaray/2025/04/01/what-to-know-about-the-switch-2-as-nintendo-readies-its-first-console-launch-in-8-years/"}},"id":"c2b3ebr1k09400"},{"textContent":"
8 hours ago
Wisconsin Supreme Court Race: Why Elon Musk And Fellow Billionaires Are Spending Millions On Today’s Election","scope":{"topStory":{"index":15,"title":"Wisconsin Supreme Court Race: Why Elon Musk And Fellow Billionaires Are Spending Millions On Today’s Election","image":"https://specials-images.forbesimg.com/imageserve/67ea9a19b2640e99087b7005/290x0.jpg?cropX1=180&cropX2=1742&cropY1=392&cropY2=1271","isHappeningNowArticle":true,"date":"8 hours ago","uri":"https://www.forbes.com/sites/alisondurkee/2025/04/01/wisconsin-supreme-court-race-why-elon-musk-and-fellow-billionaires-are-spending-millions-on-todays-election/"}},"id":"4qk5rcan3r6000"},{"textContent":"
8 hours ago
Musk Says He Sent $2.5 Million To Influencer Who Claims She Had His 13th Child—Here’s What To Know","scope":{"topStory":{"index":16,"title":"Musk Says He Sent $2.5 Million To Influencer Who Claims She Had His 13th Child—Here’s What To Know","image":"https://specials-images.forbesimg.com/imageserve/67ebd7fc1a003d7f5c97b4c8/290x0.jpg?cropX1=0&cropX2=2266&cropY1=100&cropY2=1375","isHappeningNowArticle":true,"date":"8 hours ago","uri":"https://www.forbes.com/sites/siladityaray/2025/04/01/musk-says-he-sent-25-million-to-influencer-who-claims-she-had-his-13th-child-heres-what-to-know/"}},"id":"9gf8iorplj5k00"},{"textContent":"
21 hours ago
Judge Temporarily Blocks Trump Administration From Removing Venezuelan Migrant Protections","scope":{"topStory":{"index":17,"title":"Judge Temporarily Blocks Trump Administration From Removing Venezuelan Migrant Protections","image":"https://specials-images.forbesimg.com/imageserve/67eb241c8ebefc85def01cfd/290x0.jpg?cropX1=0&cropX2=1944&cropY1=0&cropY2=1296","isHappeningNowArticle":true,"date":"21 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2025/03/31/judge-temporarily-blocks-trump-administration-from-removing-venezuelan-migrant-protections/"}},"id":"a1kf3ib986d800"},{"textContent":"
22 hours ago
Trump Says He Would ‘Love’ Running Against Obama For A Third Term","scope":{"topStory":{"index":18,"title":"Trump Says He Would ‘Love’ Running Against Obama For A Third Term","image":"https://specials-images.forbesimg.com/imageserve/67eb1cecc87aacd3ce98ddf5/290x0.jpg?cropX1=0&cropX2=2635&cropY1=11&cropY2=1495","isHappeningNowArticle":true,"date":"22 hours ago","uri":"https://www.forbes.com/sites/mollybohannon/2025/03/31/trump-says-he-would-love-running-against-obama-for-a-third-term/"}},"id":"1i1od2q3dbg20"},{"textContent":"
22 hours ago
Trump Administration Reviewing $9 Billion In Government Funding For Harvard","scope":{"topStory":{"index":19,"title":"Trump Administration Reviewing $9 Billion In Government Funding For Harvard","image":"https://specials-images.forbesimg.com/imageserve/67eb15c42fcc201ba44fa994/290x0.jpg?cropX1=0&cropX2=2573&cropY1=0&cropY2=1714","isHappeningNowArticle":true,"date":"22 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2025/03/31/trump-administration-reviewing-9-billion-in-government-funding-for-harvard/"}},"id":"agnlih0ebqd800"},{"textContent":"
+1 day ago
S&P 500 Suffers Worst Month Since 2022—Despite Monday Recovery","scope":{"topStory":{"index":20,"title":"S&P 500 Suffers Worst Month Since 2022—Despite Monday Recovery","image":"https://specials-images.forbesimg.com/imageserve/67eaa7062af90e2ef2982123/290x0.jpg?cropX1=0&cropX2=2306&cropY1=138&cropY2=1434","isHappeningNowArticle":true,"date":"+1 day ago","uri":"https://www.forbes.com/sites/dereksaul/2025/03/31/sp-500-suffers-worst-month-since-2022-despite-monday-recovery/"}},"id":"2ghpa498ng6g00"},{"textContent":"
+1 day ago
White House Says It’s ‘Moving Forward’ From Signal Leak: ‘This Case Has Been Closed’","scope":{"topStory":{"index":21,"title":"White House Says It’s ‘Moving Forward’ From Signal Leak: ‘This Case Has Been Closed’","image":"https://specials-images.forbesimg.com/imageserve/67eaf63f6e18ad4a43fbd4f6/0x0.jpg","isHappeningNowArticle":true,"date":"+1 day ago","uri":"https://www.forbes.com/sites/saradorn/2025/03/31/white-house-says-its-moving-forward-from-signal-leak-this-case-has-been-closed/"}},"id":"cern7e7df11400"}],"breakpoints":[{"breakpoint":"@media all and (max-width: 767px)","config":{"enabled":false}},{"breakpoint":"@media all and (max-width: 768px)","config":{"inView":2,"slidesToScroll":1}},{"breakpoint":"@media all and (min-width: 1681px)","config":{"inView":6}}]};
Edit Story

S&P 500 Suffers Worst Month Since 2022—Despite Monday Recovery

Following

Topline

Pessimism on the impact of President Donald Trump’s tariffs and renewed fears of a related recession pressured stocks again Monday, providing a fitting end to a brutal month and quarter for equities.

Key Facts

All three major indexes dropped Monday morning, as the Dow Jones Industrial Average and the bellwether S&P 500 fell more than 1% and the tech-heavy Nasdaq sank more than 2% by midmorning, before storming back in a rocky session that ended with the Dow Jones Industrial Average and S&P in the green and the Nasdaq in the red.

On the final day of March and 2025’s first quarter, the losses are staggering: The Dow fell 5% this month and 2% this quarter, the S&P 6% in March and 5% this quarter and the Nasdaq 8% this month and 10% this quarter.

March was the S&P’s and Nasdaq’s biggest monthly percentage declines since December 2022 and capped off the indexes’ worst quarters since 2022.

The S&P briefly re-entered correction territory Monday, trading more than 10% below its Feb. 19 all-time closing high and hitting its lowest intraday level since early September.

Again driving losses Monday morning were comments from Trump on his looming reciprocal tariffs, saying they will target “all countries,” which Goldman Sachs predicts will worsen inflation and threaten a recession; Goldman strategists lowered their three-month price target for the S&P to 5,300, forecasting a further 4% loss for the index by the end of June.

Monday’s Biggest Losers Include Tesla And Nvidia

Shares of Tesla and Nvidia fell 1% and 2%, respectively, fittingly headlining the end of month and quarter selloff. Tesla stock is down 15% this month and 38% year-to-date, almost matching Nvidia stock’s 16% March loss and 22% drop this quarter. Shares of other AI-heavy stocks including Amazon, Broadcom and Palantir also fell at least 1% on Monday.

Big Number

More than $3 trillion. That’s about how much market value companies listed on the S&P lost in March, according to FactSet data. That’s equivalent to the erasure of the total market capitalization of Apple, the world’s largest company.

Contra

Gold notched another record high of more than $3,100 per troy ounce Monday, extending its rally as investors cash in on riskier equities and pile into the safe haven precious metal. Gold is up nearly 20% in 2025’s opening quarter and is on pace for its best quarter since 1986, according to FactSet.

Key Background

Stocks initially soared after Trump secured a second term in November – the S&P rose 5% in the month following Election Day – as Wall Street cheered what a more lax regulatory environment and friendlier corporate tax rates would mean for stock valuations. But the tariffs pursued by Trump since taking office, and the uncertainty surrounding the often shifting trade policies, have proven wildly unpopular among investors. Tariffs hurt many stocks as companies contend with higher imported prices and decide to either absorb tariff costs or pass them on to consumers, either scenario weighing on profits as input costs and demand both take potential hits. Trump has publicly paid little attention to Wall Street losses, saying earlier this month, “Markets are going to go up and they’re going to go down, we have to rebuild this country.”

Further Reading

ForbesRecession Odds Hit 35% Because Of Tariffs, Goldman Warns

ForbesForbes Recession Tracker: Recession Odds Spike As Trump’s Tariff ‘Liberation Day’ Approaches
Follow me on Twitter or LinkedInSend me a secure tip

Join The Conversation

Comments 

One Community. Many Voices. Create a free account to share your thoughts. 

Read our community guidelines .

Forbes Community Guidelines

Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.

In order to do so, please follow the posting rules in our site's Terms of Service.  We've summarized some of those key rules below. Simply put, keep it civil.

Your post will be rejected if we notice that it seems to contain:

  • False or intentionally out-of-context or misleading information
  • Spam
  • Insults, profanity, incoherent, obscene or inflammatory language or threats of any kind
  • Attacks on the identity of other commenters or the article's author
  • Content that otherwise violates our site's terms.

User accounts will be blocked if we notice or believe that users are engaged in:

  • Continuous attempts to re-post comments that have been previously moderated/rejected
  • Racist, sexist, homophobic or other discriminatory comments
  • Attempts or tactics that put the site security at risk
  • Actions that otherwise violate our site's terms.

So, how can you be a power user?

  • Stay on topic and share your insights
  • Feel free to be clear and thoughtful to get your point across
  • ‘Like’ or ‘Dislike’ to show your point of view.
  • Protect your community.
  • Use the report tool to alert us when someone breaks the rules.

Thanks for reading our community guidelines. Please read the full list of posting rules found in our site's Terms of Service.