Stocks Ended Sharply Lower as Trade Tensions Escalated

U.S. stocks ended sharply lower on Monday, as further threats from the Trump administration against U.S. trading partners undercut investor sentiment. The Dow Jones Industrial Average fell 328.09 points, or 1.33%, to 24,252.80. The S&P 500 lost 37.81 points, or 1.37%, to 2,717.07. The Nasdaq Composite dropped 160.81 points, or 2.09%, to 7,532.01.

Oil prices settled lower on Monday, amid some uncertainty in the wake of an agreement by the Organization of the Petroleum Exporting Countries to ramp up production that was backed by nonmember Russia. August West Texas Intermediate crude gave up an earlier climb to lose 50 cents, or 0.7%, to settle at $68.08 a barrel. August Brent crude fell 82 cents, or 1.1%, to $74.73 a barrel.

In a regulatory filing on Monday, iconic motorcycle manufacturer Harley-Davidson (HOG) said it is moving the production of motorcycles bound for the EU out of the U.S. as a result of new tariffs.