S&P 500 Ends Nine-Day Rally Amid Trade Tensions

U.S. stocks ended a historic nine-day rally on Monday, with the S&P 500 and Nasdaq both slipping as renewed trade tensions and caution ahead of a key Federal Reserve meeting weighed on investor sentiment. President Trump's threats of new tariffs, including a proposed 100% levy on foreign films, rattled markets and particularly impacted shares of Netflix and Paramount. While the announcement dampened optimism, stronger-than-expected U.S. services sector data helped trim some losses later in the day. Treasury Secretary Scott Bessent and President Trump suggested trade deals could be imminent, but skepticism persists among investors about the likelihood of a swift resolution. The energy, consumer discretionary, and tech sectors led the declines, and attention has now shifted to the Fed's upcoming decision for further direction on interest rates and the economic outlook. Overall, uncertainty about trade negotiations and monetary policy has increased market caution after the record streak.