U.S. stocks drifted lower following their sharp losses from last week. The S&P 500 fell 0.5% Monday after flipping between small gains and losses through the day. The Dow Jones Industrial Average added 0.

The Fed has been holding its main interest rate steady after sharply cutting it through the end of last year. At their last policy meeting in January, Fed officials suggested they may stay on hold for a while given worries about how Trump’s proposed tariffs and mass deportations of migrants, along with other factors, could push upward on inflation.

Wall Street bounced higher from a dismal week as markets clawed back some of last week’s steep losses spurred by anxiety over President Donald Trump’s policies