Soon after a market decline began early Monday morning, Trump paused the tariffs on Mexico for one month following a conversation with Mexican President Claudia Sheinbaum, prompting the stock market to recover some of its losses.

The S&P 500, which had declined by as much as 1.6%, was only down 0.55%, or 33 points while the Nasdaq, which lost 1.95% to drop nearly 400 points after the opening bell, rebounded to 0.92%, which was down 172 points.