OTTAWA, Ontario (AP) — Linus Ullmark made 31 saves, Shane Pinto and Jake Sanderson scored and the Ottawa Senators beat Tampa Bay 2-1 on Thursday night, with the Lightning failing to wrap up a playoff spot.
Pinto opened the scoring for the Senators with 6:15 left in the first period, and Sanderson made it 2-0 on a power play at 5:17 of the second. Brandon Hagel got one back for Tampa Bay at seven minutes of the second with his 34th of the season.
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Tampa Bay Lightning left wing Nick Paul (20) looks to shoot as Ottawa Senators defenceman Nikolas Matinpalo (33) falls to the ice during third period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning centre Brayden Point (21) is stopped by Ottawa Senators goaltender Linus Ullmark (35) during first period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning centre Anthony Cirelli (71) reaches for the puck as Ottawa Senators goaltender Linus Ullmark (35) covers it during first period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning left wing Nick Paul (20) moves in on Ottawa Senators goaltender Linus Ullmark (35) during first period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Ottawa Senators centre Shane Pinto (12) celebrates his goal with teammates on the bench during first period NHL hockey action against the Tampa Bay Lightning in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning goaltender Andrei Vasilevskiy (88) watches the puck enter his net on a goal by Ottawa Senators defenceman Jake Sanderson, not seen, during second period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning defenceman Nick Perbix (48) dives as he battles for the puck with Ottawa Senators left wing Fabian Zetterlund (20) during second period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Ottawa Senators defenceman Jake Sanderson, centre-right, celebrates his goal with teammates during second period NHL hockey action against the Tampa Bay Lightning in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Andrei Vasilevskiy stopped 17 shots for Tampa Bay, playing the second game of a four-game trip. The Lightning had won four in a row. They could have clinched a playoff berth with either a victory or an overtime loss after Colorado beat Columbus later Thursday.
Ottawa holds the first wild-card spot in the Eastern Conference.
Lightning: Tampa Bay generated a number of chances on the power play, but was unable to capitalize.
Senators: Ottawa struggled defensively at times and relied heavily on Ullmark.
With Ottawa up 2-1, Ullmark made a huge save on Jake Guentzel with 23 seconds remaining in the second period.
The Lightning are at Buffalo on Saturday night. The Senators host Florida on Saturday and Columbus on Sunday night.
This story has been updated to correct that Tampa Bay has not clinched a playoff spot.
AP NHL: https://apnews.com/hub/nhl
Tampa Bay Lightning left wing Nick Paul (20) looks to shoot as Ottawa Senators defenceman Nikolas Matinpalo (33) falls to the ice during third period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning centre Brayden Point (21) is stopped by Ottawa Senators goaltender Linus Ullmark (35) during first period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning centre Anthony Cirelli (71) reaches for the puck as Ottawa Senators goaltender Linus Ullmark (35) covers it during first period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning left wing Nick Paul (20) moves in on Ottawa Senators goaltender Linus Ullmark (35) during first period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Ottawa Senators centre Shane Pinto (12) celebrates his goal with teammates on the bench during first period NHL hockey action against the Tampa Bay Lightning in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning goaltender Andrei Vasilevskiy (88) watches the puck enter his net on a goal by Ottawa Senators defenceman Jake Sanderson, not seen, during second period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Tampa Bay Lightning defenceman Nick Perbix (48) dives as he battles for the puck with Ottawa Senators left wing Fabian Zetterlund (20) during second period NHL hockey action in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
Ottawa Senators defenceman Jake Sanderson, centre-right, celebrates his goal with teammates during second period NHL hockey action against the Tampa Bay Lightning in Ottawa, on Thursday, April 3, 2025. (Spencer Colby/The Canadian Press via AP)
NEW YORK (AP) — U.S. stocks careened through a manic Monday after President Donald Trump threatened to crank his tariffs higher, despite a stunning display showing how dearly Wall Street wants him to do the opposite.
The S&P 500 slipped 0.2% at the end of a day full of heart-racing reversals as battered financial markets try to figure out what Trump’s ultimate goal is for his trade war. If it’s to get other countries to agree to trade deals, he could lower his tariffs and avoid a possible recession. But if it’s to remake the economy and stick with tariffs for the long haul, stock prices may need to fall further.
The Dow Jones Industrial Average fell 349 points, or 0.9%, and the Nasdaq composite edged up by 0.1%.
All three indexes started the day sharply lower, and the Dow plunged as many as 1,700 points following even worse losses elsewhere in the world. But it suddenly surged to a gain of nearly 900 points in the late morning. The S&P 500, meanwhile, went from a loss of 4.7% to a leap of 3.4%, which would have been its biggest jump in years.
The sudden rise 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.” 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 tariffs.
Stocks quickly turned back down, and shortly afterward, Trump dug in further and said he may raise tariffs more 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 because it suggests Trump may not care how much pain he inflicts on the market. 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 wasn’t concerned about a sell-off and that “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.
Indexes nevertheless did keep swinging between losses and gains Monday after Trump’s latest tariff threat, in part because hope still remains in markets that negotiations may still come.
“We’re not calling the all-clear at all, but when you have this type of volatility in the market, of course you’re going to have back and forth” in markets not just day to day but also hour to hour, said Nate Thooft, a senior portfolio manager at Manulife Investment Management.
“We’re all waiting for the next bit of information,” he said. “Literally a Truth Social tweet or an announcement of some sort about real negotiations could dramatically move this market. This is the world we live in right now.”
All that seemed certain Monday was the financial pain hammering investments around the world for a third day 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.
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 by slashing interest rates to protect the economy during every downturn. But the Fed may have less freedom to act this time around because inflation remains higher than the Fed would like. And while lower interest rates can goose the economy, they can also put upward pressure on inflation.
“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.”
In the bond market, Treasury yields rallied to recover some of their sharp drops from earlier weeks. Some of the big move may have been because of reduced expectations for cuts to interest rates by the Fed. Some analysts also said it could be due to investors outside of the United States wanting to pare their U.S. investments.
The yield on the 10-year Treasury jumped to 4.20% from 4.01% late Friday.
Earlier in the day, the S&P 500 briefly fell more than 20% below its record set less than two months ago. If it finishes a day below that bar, 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.
The S&P 500, which sits at the heart of many investors’ 401(k) accounts, is coming off its worst week since COVID began crashing the global economy in March 2020.
All told, the index fell 11.83 points Monday to 5,062.25. The Dow Jones Industrial Average dropped 349.26 to 37,965.60, and the Nasdaq composite added 15.48 to 15,603.26.
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)
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)
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 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)
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)
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)
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)
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)
