Markets are seeking clarity on President Trump's tariffs, with the president targeting Aug. 1 for new country-specific tariffs.

Newly added IBD SwingTrade r name Palantir Technologies bucked a losing trend and bolted more than 3% higher on the stock market today. Shares are extended from a late-stage cup-with-handle base with a 125.25 buy point. Shares have climbed around 82% so far this year.

The S&P 500 retreated 0.8% from its all-time high, and bond yields ticked higher. The Dow industrials fell 0.9%.

Major indexes deepened losses in afternoon trading on Monday, with the Dow falling over 500 points as investors digested the latest trade updates.