Investors continued to worry about the impact of AI on multiple industries. Coupled with US President Donald Trump's increase in global tariffs, US bourse tumbled on Monday. The DJIA nosedived 894 points at most, closing down 821 points or 1.7% at 48,804. The S&P 500 dropped 71 points or 1%, closing at 6,837. The Nasdaq slid 258 points or 1.1%, closing at 22,627.

Anthropic announced a new programming feature for its Claude Code, causing IBM (IBM.US) to plunge 13% at close, which contributed to the DJIA's slump. Software stocks were further pressured, with Microsoft (MSFT.US) shedding over 3% and CrowdStrike (CRWD.US) slipping by 10%.

Financial-related stocks were lackluster too, with American Express (AXP.US) down 7%, and both Visa (V.US) and JPMorgan (JPM.US) down 4%. Defensive stocks performed better, with Walmart (WMT.US) and Procter & Gamble (PG.US) up 2-3% against the market trend.

Trump announced over the weekend that global tariffs would be increased from 10% to 15% with immediate effect, leading the European Parliament to suspend the review of the US-EU trade agreement. Wayfair (W.US) retreated nearly 10%, and Nike (NKE.US) cratered over 3%.
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