Amy Morris

And while the president's economic agenda was thrown into chaos after the Supreme Court struck down his preferred method of imposing global tariffs, he's expected to continue to promote levies in the state of the union.

In Washington, Amy Morris, Bloomberg Radio.

President Trump's second year in office is struggling with erratic messaging, policy reversals and sinking poll numbers.

Former Republican Congressman Patrick McHenry of North Carolina, now a Bloomberg News contributor, tells Bloomberg Daybreak there's plenty for the president to talk about.

And while the president's economic agenda was thrown into chaos after the Supreme Court struck down his preferred method of imposing global tariffs, he's expected to continue to promote levies in the state of the union.

In Washington, Amy Morris, Bloomberg Radio.

news when you want it with Bloomberg News Now.

I'm Amy Morris.

There's your closing bell for this Monday on Wall Street where stocks fell and bonds rose over the impact of AI on profits and worries about tariff uncertainty.

And of course, we bring you the closing numbers.

We do that each day here at Bloomberg.

The S&P 500 is down 72 points.

NASDAQ down 259 points.

The Dow

Down 822 points.

The 10-year Treasury yield at 4.02 percent.

The two-year yield at 3.43 percent.

IBM shares now 13 percent lower.

That's its biggest drop since March of 2020 as the AI startup Anthropic says its Claude Code tool can help with modernizing COBOL, which is a dated programming language.

Most of the mainframe computers that run COBOL are made by IBM.