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Nintendo Switch 2 Launches June 5 at $449.99, Bringing New Forms of Game Communication to Life

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Nintendo Switch 2 Launches June 5 at $449.99, Bringing New Forms of Game Communication to Life
News

News

Nintendo Switch 2 Launches June 5 at $449.99, Bringing New Forms of Game Communication to Life

2025-04-02 22:04 Last Updated At:22:10

REDMOND, Wash.--(BUSINESS WIRE)--Apr 2, 2025--

All Together, Anytime, Anywhere. With new ways to play and new ways to connect players, the Nintendo Switch 2 system arrives June 5 for a suggested retail price of $449.99 in the United States . Discover reimagined Joy-Con 2 controllers, each of which can now be used as a mouse in compatible games and that snap to the system with magnetic connectors. Experience the system’s powerful processing speeds delivering visuals via a bigger screen showcasing vibrant color and clarity. From Nintendo Switch 2 games to compatible games in existing Nintendo Switch libraries – connect and play with friends and family in surprising new ways!

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Look out for more information about Hades II later this year.

Look out for more information about Hades II later this year.

Available exclusively for Nintendo Switch 2, The Duskbloods launches next year.

Available exclusively for Nintendo Switch 2, The Duskbloods launches next year.

Donkey Kong Bananza crashes onto Nintendo Switch 2 July 17.

Donkey Kong Bananza crashes onto Nintendo Switch 2 July 17.

Mario Kart World races onto Nintendo Switch 2 on June 5.

Mario Kart World races onto Nintendo Switch 2 on June 5.

Nintendo Switch 2 system arrives June 5 for a suggested retail price of $449.99.

Nintendo Switch 2 system arrives June 5 for a suggested retail price of $449.99.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250402229347/en/

“Nintendo Switch 2 is the next step in at-home gaming that can be taken on the go based on eight years of play and discovery that began with Nintendo Switch,” said Nintendo President Shuntaro Furukawa. “With its new features that expand the possibilities of gaming experiences, I truly believe that Nintendo Switch 2 is a leap forward in our journey of putting smiles on the faces of everyone that Nintendo touches.”

Nintendo Switch 2 comes with the following:

Race into Nintendo Switch 2 with the Nintendo Switch 2 + Mario Kart World Bundle* for a suggested retail price of $499.99 in the United States, which includes a system and a download code for the Mario Kart World game, available from Nintendo Switch 2 launch day on June 5.

Today’s Nintendo Direct presentation featured a broad variety of hardware details, system features, and games coming to the Nintendo Switch 2 system both from Nintendo and its publishing partners. To view the Nintendo Direct presentation in its entirety, visit https://www.youtube.com/live/DXUmjX7DsP8.

GameChat Enables New Ways to Play Socially, All Together

With the new online feature GameChat**, people can play games and talk like everyone is in the same room, even if they are miles apart. Whether sharing a victory or just waving hello, GameChat makes it feel like online friends around the world are on the same couch. Once GameChat is up, players can start a chat with friends anytime by pressing the C Button on the right Joy-Con 2 controller. The system’s built-in mic can be used to voice chat while playing games with up to 12 people in different locations. Up to four friends can share their screen, and if they connect a compatible USB-C camera, such as the Nintendo Switch 2 camera (sold separately), they can also video chat, seeing each other’s faces as they cheer, shout, or laugh while playing. Additional friends can join the chat via audio only. Until the end of March 2026, GameChat can be used without the need to have a Nintendo Switch Online membership. Afterwards, a Nintendo Switch Online membership will be required.

When initiating a GameChat session, the user invites people from their friend list. Safety features are in place to help players have a safe and secure chat experience, such as the ability to report a person while in a chat session. In addition, Nintendo recognizes the important role parents and guardians play in their children’s online experiences, so children under the age of sixteen will need their parent or guardian to approve their use of GameChat with an updated version of the Nintendo Switch Parental Controls App.

A Multitude of New Features and Experiences

A large, vivid screen that allows smooth motion expression

Nintendo Switch 2 has a large 7.9-inch built-in LCD screen that displays in full HD at 1080p while maintaining the same thickness of Nintendo Switch. Even while on the go, Nintendo Switch 2 offers vivid, detailed game experiences, as well as smooth graphics showcasing character movements and their rich facial expressions.

Joy-Con 2 controllers attach to the system with a “snap”

Joy-Con 2, the newly designed Nintendo Switch 2 controllers, magnetically attach to the Nintendo Switch 2 console. In addition, either Joy-Con 2 controller can be operated like a mouse by sliding it on a surface like a table or on a pair of pants. They can be used in multiple ways, including for games that require aiming.

A new freely adjustable stand and a new USB-C port

The angle of the new stable stand on the back of the Nintendo Switch 2 system can be adjusted freely so that players can find their preferred viewing angle. While Nintendo Switch has one USB-C port on the bottom of the system, Nintendo Switch 2 has a port on the top of the system as well, which makes it possible for players to use the included AC adapter to charge the system while playing in tabletop mode. It is also possible to connect a compatible USB-C camera, like the Nintendo Switch 2 camera accessory to enjoy video chat on GameChat.

Powerful processing speed and graphical performance

Nintendo Switch 2 has significantly improved CPU and GPU performance over Nintendo Switch, resulting in faster processing speed and enabling new visually advanced gameplay. It also makes it possible to achieve more detailed graphics and faster loading times.

Crisp audio quality and spatial 3D sound

On Nintendo Switch 2, the sound quality is more natural and clearer with an even more balanced sound range. When playing in handheld mode or tabletop mode, players will be able to experience games with even more immersive, three-dimensional sound.

Internal storage of 256 GB

The internal storage of Nintendo Switch 2, where digital games and save data are stored, is 256 GB, which is 8 times the storage capacity of Nintendo Switch. For additional storage, Nintendo Switch 2 only uses microSD Express cards, which have faster data reading speeds than previous microSD models.

Nintendo Switch games are also playable on Nintendo Switch 2

In addition to Nintendo Switch 2 games, Nintendo Switch 2 can play compatible physical and digital games released on Nintendo Switch. Some Nintendo Switch games may not be supported on or fully compatible with Nintendo Switch 2. Nintendo Switch Joy-Con controllers and peripherals, such as the Nintendo Switch Pro Controller, will also be usable on Nintendo Switch 2 by connecting them wirelessly to the system. For more information on the compatibility with Nintendo Switch games and accessories, please visit the Nintendo website.

The new Nintendo Switch 2 Dock

By connecting the Nintendo Switch 2 Dock to a TV, users can output video at up to 4K resolution and play games at up to 120 fps, via compatible games and TVs.

Multiple people can play one title with GameShare

With GameShare, a new Nintendo Switch 2 feature, players can share and play the same game with others who do not have the game. If one person has a Nintendo Switch 2 system and a game compatible with GameShare, that person can invite others to temporarily play the same game together via local play with their Nintendo Switch 2 or Nintendo Switch system. Between Nintendo Switch 2 systems, GameShare can also be used along with GameChat for online play, so that players can chat with others while all of them play the same game.

Virtual game cards add benefits to digital games

With virtual game cards, players can easily manage all their purchased digital games, play games on two different systems, or even lend or borrow games. The virtual game card menu shows all of the digital games purchased with a user’s Nintendo Account, making it easy to access the games and load them on the system. Once a virtual game card is loaded onto a system, it can be played even if the system is not connected to the internet, and other users who are on that system can also play the game. Additionally, digital games can be lent and borrowed among members of the same Nintendo Account family group in the form of virtual game cards via local wireless communication.

Nintendo Switch Online

Nintendo Switch Online** will be available on Nintendo Switch 2. On Nintendo Switch 2, players with a Nintendo Switch Online membership will be able to use features like GameChat along with existing online features. For a limited time, all Nintendo Switch 2 owners can access GameChat without a Nintendo Switch Online membership through the GameChat Open-Access period, which lasts until the end of March 2026. After that time, a Nintendo Switch Online membership will be required to use GameChat. In addition, for Nintendo Switch 2 owners, Nintendo GameCube – Nintendo Classics will be released right at the system’s launch. Players with a Nintendo Switch Online + Expansion Pack membership and a Nintendo Switch 2 system will be able to access a growing collection of Nintendo GameCube games with clearer image quality and higher resolution than the original releases. The classic game lineup available at release will be F-Zero GX, The Legend of Zelda: The Wind Waker and SOULCALIBUR II. Along with the classic games, a dedicated wireless controller designed after the original GameCube controller will be available for purchase*** by paid Nintendo Switch Online members.

Variety of accessibility features

In addition to existing accessibility features on Nintendo Switch, to support players’ wide range of gameplay styles, Nintendo Switch 2 offers a variety of new accessibility options including the ability to adjust font size, enable screen reader, and speech-to-text features within GameChat.

Safe and secure game experience on Nintendo Switch 2

With the Nintendo Switch Parental Control app, parents can easily support their children’s gameplay by using their smart device to check what kind of games their children play or set limits on how long the system can be used daily. As for GameChat, children under the age of 16 will need the parent’s or guardian’s approval on the Nintendo Switch Parental Control app to start a chat, which makes it possible for parents and guardians to manage their children’s chat experience securely.

Nintendo Switch 2 will be available for pre-order in North America from participating retailers beginning on April 9, 2025.

New Games for a New System

Nintendo Switch 2 will launch with games that highlight its new capabilities while bringing everyone along for the ride. From brand new titles and system exclusives, like Mario Kart World and Donkey Kong Bananza, to exhilarating experiences like EA SPORTSMadden NFL and Cyberpunk 2077: Ultimate Edition, to upgraded versions of Nintendo Switch games like Super Mario Party Jamboree – Nintendo Switch 2 Edition + Jamboree TV and Sid Meier's Civilization®VII – Nintendo Switch 2 Edition, there is much to share and play.

Put the pedal to the metal in Mario Kart World, a brand-new experience set in a vast interconnected environment. Race seamlessly across connected courses that deliver Mario Kart racing like never before. Twenty-four drivers can compete in a race. Participate in the new Knockout Tour mode, where you’ll barrel through back-to-back courses and checkpoints, with no pit stops along the way. If a player doesn’t make it to each checkpoint at a high-enough placement, they will be eliminated. And in Free Roam, it’s possible to go off the racetrack and drive in any direction you wish, explore areas that pique your interest and take some photos at scenic spots with a group of friends. Mario Kart World races onto Nintendo Switch 2 on June 5. More details will be revealed in a Mario Kart World Direct presentation on April 17 at 06:00 PST / 09:00 EST.

Get ready for Donkey Kong Bananza, a brand-new 3D platforming action adventure – available exclusively on Nintendo Switch 2. Crash, bash, and climb through nearly everything in DK’s path and tear off chunks of terrain to swing around and throw in groundbreaking exploration. The more that is demolished with powerful punches, the more areas open up to discover. Break on through this adventure full of mayhem, surprises and bananas when Donkey Kong Bananza crashes onto Nintendo Switch 2 July 17.

The new capabilities of Nintendo Switch 2 allow for compatible physical and digital games released on Nintendo Switch to receive paid Nintendo Switch 2 Edition upgrade packs featuring enhanced graphics, exclusive content offerings, and new gameplay experiences.

Star in Super Mario Party Jamboree – Nintendo Switch 2 Edition + Jamboree TV, featuring unique new modes and minigames that showcase mouse controls, the system’s built-in mic, and Nintendo Switch 2 camera (sold separately). Invite friends**** to join Bowser Live, a game show-themed experience with 2v2 team battles and physical challenges! But beware: Losing teams may have to answer to Bowser himself! Get ready to see what’s new in this party when it launches July 24.

See the Kingdom of Hyrule in a whole new way with The Legend of Zelda: Breath of the WildNintendo Switch 2 Edition and The Legend of Zelda: Tears of the Kingdom – Nintendo Switch 2 Edition, available with performance upgrades on Nintendo Switch 2. Smoother frame rates, faster load times, and better graphics will make for a fresh experience when revisiting these adventures, and now players will also have a little extra help. Also on the way is an update to the Nintendo Switch App***** (previously known as the Nintendo Switch Online App), called ZELDA NOTES. This game-specific service is exclusive to the Nintendo Switch 2 Editions of the games and helps players navigate to various locations, like that difficult-to-find shrine or hidden Korok, and will even feature commentary from Princess Zelda herself that was not part of the original games. Both upgraded titles will be available from Nintendo Switch 2 launch day, June 5.

Kirby’s 3D platforming adventure gets an extra Nintendo Switch 2 boost in Kirby and the Forgotten Land – Nintendo Switch 2 Edition + Star-Crossed World. A mysterious meteor crashes in the world of Kirby and the Forgotten Land, revealing a new story for Kirby. He must use his abilities, including new Mouthful Modes, to clear a trail through uncharted territory. The upgrade pack will include this new content which can be played in single-player and local co-op, as well as improved performance for the entire game. Jump into Kirby’s star-crossed world when it launches August 28.

The galaxy’s greatest bounty hunter Samus Aran returns in Metroid Prime 4: Beyond. This title will release on both Nintendo Switch and Nintendo Switch 2, with the latter allowing for both standard controls and Joy-Con 2 mouse controls as players wield Samus's arm cannon with more precision, plus enhanced visuals and performance. Choose between Quality Mode and Performance Mode, both of which support HDR, based on your preference and playstyle. Explore the immersive world in 4K at 60 fps or enjoy smoother action in full HD at 120 fps on compatible displays when the game launches in 2025.

In Pokémon Legends: Z-A – Nintendo Switch 2 Edition, you can enjoy your adventure in Lumiose City on Nintendo Switch 2 with enhanced resolution and frame rates, coming late 2025.

Kirby Air Riders, a brand-new title originated from the Nintendo GameCube classic racing-action game Kirby Air Ride, and Masahiro Sakurai, the director of the Super Smash Bros. series, was announced for release this year. The trailer revealed a dramatic introduction of Kirby on his Warp Star machine and other Kirby air riders on a variety of unique machines, as they joined together on a racetrack. Kirby Air Riders will glide onto Nintendo Switch 2 in 2025.

Use the Joy-Con 2 mouse controls and enjoy a new experience by strapping into Drag x Drive. A new online 3v3 game experience, Drag x Drive (pronounced “Drag and Drive”) challenges players to use the mouse controls with both Joy-Con 2 at the same time to intuitively steer, speed up, perform tricks and make plays such as dunks. Get ready to gear up when Drag x Drive launches on Nintendo Switch 2 this summer.

While it’s understandable that players will want to hit the ground running (or racing) with Nintendo Switch 2, they can also explore a variety of features and details the new system has to offer. Players can enter a virtual exhibition with Nintendo Switch 2 Welcome Tour and gain insights into what makes Nintendo Switch 2 such a unique gaming experience. Through tech demos, minigames and other interactions, players will get to know the new system inside and out in ways they may never have known about otherwise. Nintendo Switch 2 Welcome Tour will be available to buy from Nintendo eShop from Nintendo Switch 2 launch day, June 5.

Exciting Games from Global Developers and Publishers

From acclaimed hits like SPLIT FICTION and ELDEN RING to sports phenoms like EA SPORTSMadden NFL and NBA 2K, and highly anticipated games like Hades II and Borderlands 4, Nintendo Switch 2 is the place where players can find the full range of gaming experiences. Here are some of the games coming to Nintendo Switch 2 from development and publishing partners.

The Duskbloods: The moontears will flow for one and one alone in The Duskbloods, a brand-new multiplayer** title from the creators of DARK SOULS and ELDEN RING, FromSoftware. Available exclusively for Nintendo Switch 2, The Duskbloods launches next year. Read more in our upcoming developer diary series, Creator's Voice, with the game’s director Hidetaka Miyazaki, coming on April 4th.

Hades II: Battle beyond the Underworld to vanquish the Titan of Time as the Princess of the Dead in this bewitching sequel to the original rogue-like dungeon crawler. Hades II lets players explore a bigger, deeper mythic world with the full might of Olympus at their call in a story that reacts to their every setback and accomplishment. The game is coming first on console to both Nintendo Switch and Nintendo Switch 2, taking advantage of the new system’s higher-definition display with responsive action at a target of 60 frames per second. Look out for more information about Hades II later this year.

EA SPORTS Madden NFL and EA SPORTS FC: EA SPORTS is bringing fans together from across the world** – both on the pitch and on the gridiron. EA SPORTSMadden NFL and EA SPORTS FC will be coming to Nintendo Switch 2.

NBA 2K and WWE 2K: Dominate on the court and in the ring NBA 2K and WWE 2K are coming to Nintendo Switch 2.

Hyrule Warriors: Age of Imprisonment is the newest title in the Hyrule Warriors series and is developed by Koei-Tecmo Games with support from Nintendo. The game features epic battles against hordes of enemies as it tells the untold story from Hyrule's distant past of the Imprisoning War that ultimately led to the events of The Legend of Zelda: Tears of the Kingdom. Fans of the Legend of Zelda series and players of both The Legend of Zelda:Breath of the Wild and The Legend of Zelda: Tears of the Kingdom can experience the thrill of battle and this canonical tale featuring Princess Zelda, King Rauru, and other familiar characters. Fight for Hyrule’s future when Hyrule Warriors: Age of Imprisonment comes to Nintendo Switch 2 this winter.

SPLIT FICTION: Jump between sci-fi and fantasy worlds in this co-op action adventure**, where contrasting writers Mio and Zoe have become trapped in a simulation of their own stories. SPLIT FICTION keeps you on the edge of your couch with weird and unexpected moments as players have to coordinate and work together to overcome challenges. Players can also invite a friend to play with for free via cross-play on Nintendo Switch 2 with Friend’s Pass******. Jump into the action when SPLIT FICTION releases the same day as Nintendo Switch 2.

Cyberpunk 2077: Ultimate Edition: For the first time, Nintendo players can step into the shoes of V — a mercenary determined to become a legendary cyberpunk in Night City. With the powerful processing speed and graphical performance of Nintendo Switch 2, every neon-lit street and firefight feels more immersive than ever. With this edition, players can enjoy the full Cyberpunk 2077 experience, featuring the base game and the critically acclaimed Phantom Liberty spy-thriller expansion. Climb the ranks when Cyberpunk 2077: Ultimate Edition releases the same day as Nintendo Switch 2.

FINAL FANTASY VII REMAKE INTERGRADE: Experience a modern reimagining of one of the most iconic games of all time on Nintendo Switch 2. Set in Midgar, players will immerse themselves in a standalone gaming experience designed for RPG players that crave unforgettable characters, a powerful story, and a strategic battle system that merges real-time action with command-based combat. Including FF7R EPISODE INTERmission, an additional story arc happening during the events of the game, players can fight for the future of the planet when FINAL FANTASY VII REMAKE INTERGRADE comes to Nintendo Switch 2.

Street Fighter 6: Experience the next evolution of Street Fighter in Street Fighter 6 with three distinct game modes, new gameplay features, and enhanced visuals. Fight your way to the top with new game modes exclusive to Nintendo Switch 2 like Local Wireless One on One and Avatar Matches****. Enjoy new party modes utilizing Joy-Con 2 controllers like Gyro Battle and Calorie Contest. Plus, players can check out three new amiibo figures and 22 amiibo cards at launch. Choose from Street Fighter 6 Years 1-2 Fighter Edition, or the digital version of Street Fighter 6, for Nintendo Switch 2 on launch day.

Sid Meier's Civilization®VII – Nintendo Switch 2 Edition: Steer the course of history in Sid Meier's Civilization®VII – Nintendo Switch 2 Edition. Featuring new mouse controls that offer a more intuitive experience, players’ decisions will shape the cultural lineage of their empire. Construct cities and architectural wonders, improve your civilization with technological breakthroughs, and conquer or cooperate with rival civilizations as you explore the world. Whether you choose to follow history or forge your own path, create a legacy that echoes through the Ages when Sid Meier's Civilization®VII – Nintendo Switch 2 Edition comes to Nintendo Switch 2 on launch day.

Hogwarts Legacy: Experience Hogwarts School of Witchcraft and Wizardry like never before in Hogwarts Legacy, which has been updated with Joy-Con 2 mouse support, improved graphics and audio, seamless map load times, and controls for Nintendo Switch 2. Players can become the center of their own adventure with this open-world, action role-playing game as they discover magical beasts, customize their character, master spell casting, and become the witch or wizard they want to be. Rediscover the magic when Hogwarts Legacy arrives on the same day as Nintendo Switch 2.

BRAVELY DEFAULT FLYING FAIRY HD Remaster: Follow four Warriors of Light on a journey to restore the elemental crystals in the HD remaster of the Nintendo 3DS RPG masterpiece, BRAVELY DEFAULT. Experience an RPG that brings new depth to classic, turn-based battles with the introduction of the “Brave & Default” system – featuring an array of options to customize your characters with over 20 unique jobs. The game also includes quality of life updates and two new minigames that leverage the dual mouse controls of Nintendo Switch 2. BRAVELY DEFAULT FLYING FAIRY HD Remaster comes to Nintendo Switch 2 on launch day.

Borderlands 4: Experience outrageous enemies and killer loot on the dangerous new planet of Kairos in Borderlands 4. Become an unstoppable force blasting through enemies with an arsenal of weaponry. Deftly defy death from every direction as players flex their skill expression with glide, dodge, fixed-point grapple, and more. Hop into the action when Borderlands 4 launches on Nintendo Switch 2 in 2025.

More adventure awaits in new and updated titles including…

And that’s not all, as Nintendo Switch 2 welcomes STARSEEKER: Astroneer Expeditions, Daemon X Machina: Titanic Scion, DELTARUNE, Survival Kids, Star Wars Outlaws,Hollow Knight: Silksong, and more!

For more information on Nintendo Switch 2, please visit the Nintendo website at Nintendo.com. Also, look for continuing Nintendo Switch 2 content in the free Nintendo Today! smart device app***** for iOS and Android. https://www.nintendo.com/us/store/products/nintendo-today-mobile/

* Limited time production through Fall 2025 (available while supplies last)

** Internet, Nintendo Switch Online membership and Nintendo Account required for online features, including GameChat. Compatible USB camera required for video features. Not available in all countries. Terms and GameChat requirements apply. support.nintendo.com Games, systems, memberships and some accessories sold separately.

*** Limit one purchase per Nintendo Account with paid Nintendo Switch Online membership. Controller ships to U.S. and Canada only. Offer not available in all countries or for free trial memberships. Nintendo Switch Online + Expansion Pack membership required to access Nintendo GameCube – Nintendo Classics collection of games. This controller is optional and not required to play the Nintendo GameCube - Nintendo Classics collection of games. System update required.

**** Additional games, systems and/or accessories may be required for multiplayer mode. Games, systems and some accessories sold separately.

***** Nintendo Account, persistent internet and compatible smart device required. Data charges may apply.

****** Friend’s Pass requires installation of the Friend’s Pass and applicable platform account.

About Nintendo: Nintendo Co., Ltd., headquartered in Kyoto, Japan, has created franchises that have become household names worldwide, including Mario™, Donkey Kong™, The Legend of Zelda™, Metroid™, Pokémon™, Animal Crossing™, Pikmin™ and Splatoon™, through its integrated hardware and software products. Nintendo aims to deliver unique, intuitive entertainment experiences for everyone, manufacturing and marketing video game devices such as the Nintendo Switch ™ family of systems, developing and operating applications for smart devices, and collaborating with partners on a range of other entertainment initiatives like visual content and theme parks. Nintendo has sold more than 5.8 billion video games and over 850 million hardware units globally. From the launch of the Nintendo Entertainment System ™ more than 30 years ago, through today and into the future, Nintendo’s continuing mission is to create unique entertainment that puts smiles on the faces of people all over the world. A wholly owned subsidiary, Nintendo of America Inc., based in Redmond, Wash., serves as headquarters for Nintendo’s operations in the Americas. For more information about Nintendo, please visit the company’s website at https://www.nintendo.com/.

Note to editors: Nintendo press materials are available at https://press.nintendo.com, a password-protected site. To obtain a login, please register on the site.

Look out for more information about Hades II later this year.

Look out for more information about Hades II later this year.

Available exclusively for Nintendo Switch 2, The Duskbloods launches next year.

Available exclusively for Nintendo Switch 2, The Duskbloods launches next year.

Donkey Kong Bananza crashes onto Nintendo Switch 2 July 17.

Donkey Kong Bananza crashes onto Nintendo Switch 2 July 17.

Mario Kart World races onto Nintendo Switch 2 on June 5.

Mario Kart World races onto Nintendo Switch 2 on June 5.

Nintendo Switch 2 system arrives June 5 for a suggested retail price of $449.99.

Nintendo Switch 2 system arrives June 5 for a suggested retail price of $449.99.

NEW YORK (AP) — U.S. stocks are swinging in a manic Monday after President Donald Trump doubled down on his tariffs, despite seeing how much Wall Street wants him to do the opposite.

The S&P 500 was up 0.3% in afternoon trading, coming off its worst week since COVID began crashing the global economy in March 2020. The index, which sits at the heart of many investors’ 401(k) accounts, has been flirting with a drop of 20% from its record set less than two months ago.

The Dow Jones Industrial Average was down 184 points, or 0.5%, as of 2:37 p.m. Eastern time, and the Nasdaq composite was 0.8% higher.

Earlier in a heart-racing morning, the Dow plunged as many as 1,700 points shortly after trading began, following even worse losses worldwide on worries that Trump's tariffs could torpedo the global economy. But it suddenly surged to a leap of nearly 900 points. The S&P 500 went from a loss of 4.7% to a gain of 3.4%, which would have been its biggest jump in years.

The sudden rise for stocks followed a false rumor that Trump was considering a 90-day pause on his tariffs, one that a White House account on X quickly labeled as “fake news.” Stocks then turned back down. That a rumor could move trillions of dollars' worth of investments shows how much investors are hoping to see signs that Trump may let up on his stiff tariffs, which have started a global trade war.

Soon after that, Trump threatened to raise tariffs further against China after the world's second-largest economy retaliated last week with its own set of tariffs on U.S. products.

It’s a slap in the face to Wall Street, not just because of the sharp losses it’s taking, but because it suggests Trump may not be moved by its pain. Many professional investors had long thought that a president who used to crow about records reached under his watch would pull back on policies if they sent the Dow reeling.

On Sunday Trump told reporters aboard Air Force One that he does not want markets to fall. But he also said he wasn’t concerned about a sell-off, saying “sometimes you have to take medicine to fix something.”

Trump has given several reasons for his stiff tariffs, including to bring manufacturing jobs back to the United States, which is a process that could take years. Trump on Sunday said he wanted to bring down the numbers for how much more the United States imports from other countries versus how much it sends to them.

“The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession,” JPMorgan CEO Jamie Dimon, one of the most influential executives on Wall Street, wrote in his annual letter to shareholders Monday. “Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth.”

The financial pain once again hammered investments around the world on Monday, the third straight day of steep losses after Trump announced tariffs in his “Liberation Day.” Stocks in Hong Kong plunged 13.2% for their worst day since 1997. A barrel of benchmark U.S. crude oil dipped below $60 during the morning for the first time since 2021, hurt by worries that a global economy weakened by trade barriers will burn less fuel. Bitcoin sank below $79,000, down from its record above $100,000 set in January, after holding steadier than other markets last week.

On Wall Street, roughly 65% of the stocks fell within the S&P 500. The index is being lifted by gains from several big technology stocks, whose pricey values tend to give more heft to the market's direction, whether up or down. Nivida rose 4.6%.

Nike dropped 4% for one of the larger losses in the market. Not only does it sell a lot of shoes and apparel in China, it also makes much of it there. Last fiscal year, factories in China made 18% of its Nike brand footwear. Vietnam made 50%, and Indonesia made 27%.

Trump’s tariffs are an attack on the globalization that’s remade the world’s economy, which helped bring down prices for products on the shelves of U.S. stores but also caused production jobs to leave for other countries.

It also adds pressure on the Federal Reserve. Investors have become nearly conditioned to expect the central bank to swoop in as a hero during downturns. By slashing interest rates to make borrowing easier for U.S. households and companies, along with several untraditional moves to juice the economy, the Fed helped the U.S. economy recover from the 2008 financial crisis, the 2020 COVID crash and other bear markets.

But the Fed may have less freedom to act this time around because the conditions are so much different. For one, instead of a coronavirus or a system built up on too much belief that U.S. home prices would keep rising, this market downturn is mostly because of economic policy from the White House.

Perhaps more importantly, inflation is also higher at the moment than the Fed would like. And while lower interest rates can goose the economy, they can also put upward pressure on inflation. Expectations for inflation are already swinging higher because of Trump’s tariffs, which would likely raise prices for anything imported.

“The idea that there’s so much uncertainty going forward about how these tariffs are going to play out, that’s what’s really driving this plummet in the stock prices,” said Rintaro Nishimura, an associate at the Asia Group.

If the S&P 500 finishes the day 20% below its record, it would be a big enough drop that Wall Street has a name for it. A “bear market” signifies a downturn that’s moved beyond a run-of-the-mill 10% drop, which happens every year or so, and has graduated into something more vicious.

Nathan Thooft, a senior portfolio manager at Manulife Investment Management, said more countries are likely to respond to the U.S. with retaliatory tariffs. Given the large number of countries involved, “it will take a considerable amount of time in our view to work through the various negotiations that are likely to happen.”

“Ultimately, our take is market uncertainly and volatility are likely to persist for some time,” he said.

Kurtenbach reported from Bangkok. McHugh reported from Frankfurt, Germany. Associated Press writers Ayaka McGill, Paul Harloff, Matt Ott and Jiang Junzhe also contributed.

An electronic display shows financial information on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

An electronic display shows financial information on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Federico DeMarco works on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Federico DeMarco works on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Chris Lagana works on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Chris Lagana works on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Traders work on the options floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

Traders work on the options floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

While a stock exchange trader sits in front of his monitors on the trading floor of the Frankfurt Stock Exchange, Germany, the display board with the Dax curve shows a value of less than 20,000 points. (Arne Dedert/dpa via AP)

While a stock exchange trader sits in front of his monitors on the trading floor of the Frankfurt Stock Exchange, Germany, the display board with the Dax curve shows a value of less than 20,000 points. (Arne Dedert/dpa via AP)

While a stock exchange trader sits in front of his monitors on the trading floor of the Frankfurt Stock Exchange, Germany, the display board with the Dax curve shows a value of less than 20,000 points. (Arne Dedert/dpa via AP)

While a stock exchange trader sits in front of his monitors on the trading floor of the Frankfurt Stock Exchange, Germany, the display board with the Dax curve shows a value of less than 20,000 points. (Arne Dedert/dpa via AP)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 7, 2025. (AP Photo/Ahn Young-joon)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 7, 2025. (AP Photo/Ahn Young-joon)

An electronic stock board shows that Nikkei stock average dropped over 2,900 Japanese yen in Tokyo Monday, April 7, 2025. (Kyodo News via AP)

An electronic stock board shows that Nikkei stock average dropped over 2,900 Japanese yen in Tokyo Monday, April 7, 2025. (Kyodo News via AP)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, top right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 7, 2025. (AP Photo/Ahn Young-joon)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, top right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 7, 2025. (AP Photo/Ahn Young-joon)

A person walks past an electronic stock board in Tokyo Monday, April 7, 2025. (Kyodo News via AP)

A person walks past an electronic stock board in Tokyo Monday, April 7, 2025. (Kyodo News via AP)

Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 7, 2025. (AP Photo/Ahn Young-joon)

Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 7, 2025. (AP Photo/Ahn Young-joon)

US President Donald Trump appears on a television screen at the stock market in Frankfurt, Germany, Thursday, April 3, 2025. (AP Photo/Michael Probst)

US President Donald Trump appears on a television screen at the stock market in Frankfurt, Germany, Thursday, April 3, 2025. (AP Photo/Michael Probst)

A screen displays financial news as traders work on the floor at the New York Stock Exchange in New York, Thursday, April 3, 2025. (AP Photo/Seth Wenig)

A screen displays financial news as traders work on the floor at the New York Stock Exchange in New York, Thursday, April 3, 2025. (AP Photo/Seth Wenig)

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