U.S. stocks are losing ground in midday trading Monday as the Trump administration steps up pressure on trading partners to make deals before a Wednesday deadline. The S&P 500 was down 0.9% in the first day of trading in the U.S. after a holiday-shortened week. Tesla tumbled 6.8% for the biggest drop among S&P 500 stocks as the feud between CEO Elon Musk and President Donald Trump reignited over the weekend.
US President Donald Trump has blasted Elon Musk’s plan to start a new political party that could splinter the Republican vote in the 2026 midterm elections.