02:16 PM EDT, 04/07/2025 (MT Newswires) -- US benchmark equity indexes were mostly lower intraday, while Treasury yields jumped, as President Donald Trump threatened more tariffs against China.

The Dow Jones Industrial Average was down 1.1% at 37,906.3 after midday Monday, while the S&P 500 fell 0.3% to 5,058.4. The Nasdaq Composite was little changed at 15,585.6 after having entered a bear market Friday, characterized by a decline of at least 20% from its peak.

Among sectors, real estate saw the biggest drop intraday Monday, while only communication services and technology were in the green.

Trump said his administration would impose additional 50% tariffs on China, effective Wednesday, unless Beijing reverses its recent retaliatory actions.

"Additionally, all talks with China concerning their requested meetings with us will be terminated!" Trump said in a Monday social media post. "Negotiations with other countries, which have also requested meetings, will begin taking place immediately."

US Treasury yields were higher intraday, with the 10-year rate surging 19.3 basis points to 4.18% and the two-year rate gaining 9.3 basis points to 3.76%.

Trump's tariffs have the potential to fuel inflation and slow down economic growth, JPMorgan Chase ( JPM ) Chief Executive Jamie Dimon said. "Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth," Dimon said.

Wells Fargo Investment Institute lowered its 2025 target level for the S&P 500 and cut earnings estimates for companies part of the index to reflect a projected US economic slowdown amid an aggressive tariff policy.

Trump's latest reciprocal tariffs pose major challenges for Apple ( AAPL ) and Tesla (TSLA) as the duties are likely to create cost and demand headwinds for the tech giants, Wedbush Securities said. Apple ( AAPL ) shares were down 3.6% intraday, the second-worst performer on the Dow, while Tesla fell 1.7%.

Major US airlines' 2025 earnings and revenue are likely to face pressure as US tariffs increase the risks of a recession at home, UBS Securities said.

In other company news, Nvidia ( NVDA ) shares were up 5.1% intraday, the top gainer on the Dow, followed by Amazon.com ( AMZN ) , up 3%.

Dollar Tree ( DLTR ) was the second-best performer on the S&P 500, up 8.7%, as Citigroup upgraded the discount retailer's stock to buy from neutral and adjusted its price target to $103 from $76.

West Texas Intermediate crude oil fell 0.9% to $61.44 a barrel intraday.

Gold was down 1.7% at $2,983.30 per troy ounce, while silver rose 1.6% to $29.70 per ounce.

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