S&P 500 & NASDAQ Slide as Tariff Uncertainty Weighs on USD Sentiment

US equity indices are under significant selling pressure as tariff-related uncertainty dominates market sentiment, with both the S&P 500 and NASDAQ moving sharply lower during Monday's session. The primary driver is a lack of clarity surrounding the scope, timing, and impact of US tariff policies on specific countries, industries, and index components. Investors are actively de-risking portfolios, creating a risk-off environment that has broader implications for the US dollar and forex markets. From a technical perspective, sellers are firmly in control of the broader indices, with key support levels being tested. The risk-off mood typically benefits safe-haven currencies such as the Japanese yen and Swiss franc against the US dollar, while weighing on risk-sensitive currencies like the Australian and New Zealand dollars. Traders should monitor upcoming tariff-related headlines closely, as any policy clarification could trigger sharp reversals. The elevated uncertainty environment suggests continued volatility across both equity and forex markets in the near term, with USD pairs particularly sensitive to shifts in risk appetite.