Stocks ended narrowly mixed Monday after a remarkable recovery from early huge losses amid volatile trading on conflicting tariff news. The Dow Jones industrial average lost 0.9 percent, the S&P 500 eased 0.2 percent, and the Nasdaq was up 0.1 percent. US bond yields rose, oil prices fell, while the dollar was mostly higher.

Weekend news that President Trump was not backing off his tariff plans and on Monday had threatened China with huge new tariffs hit stocks hard at the opening. The market staged a huge comeback on a late morning report, which turned out to be incorrect, that Trump was planning to suspend the tariffs for 90 days. Stocks came back off but did not return to the lows and many traded in positive territory for the rest of the day even as investors' hopes were dashed for an immediate reprieve in the trade war.

Dip-buying in momentum favorites helped lift the major averages. Nvidia, Palantir, Super Micro Devices, Amazon, Alphabet and Meta were among the day's winners on bargain-hunting after their big losses through Monday morning. Among sectors, communications services and technology fared best. Worst were materials, consumer staples, health care, financials, utilities and real estate.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.