NEW YORK — U.S. stocks rose Monday as Wall Street took President Donald Trump’s latest threat on tariffs in stride.

The S&P 500 climbed 0.7%, coming off a losing week that was bookended by worries about how potential tariffs could push up inflation and threaten the economy. The Dow Jones Industrial Average added 167 points, or 0.4%, and the Nasdaq composite rallied 1% as Nvidia and other Big Tech stocks led the way.

The bond market also remained relatively firm, with Treasury yields making only modest moves after Trump said over the weekend that he would announce 25% tariffs on all steel and aluminum imports, as well as other import duties later in the week.

Fear around tariffs has been at the center of Wall Street’s moves recently, and experts say the market likely has more swings ahead. The price of gold, which often rises when investors are feeling nervous, climbed again Monday to top $2,930 per ounce and set another record. But Trump has shown he can be just as quick to pull back on threats, like he did with 25% tariffs he had announced on Canada and Mexico, suggesting they may be merely a negotiating chip rather than a true long-term policy.

Trump, of course, has already gone ahead with 10% tariffs on China. Those will likely affect Wall Street by cleaving winning industries from losing ones, but they won’t necessarily drag the entire market lower, according to Michael Wilson and other strategists at Morgan Stanley. A big, market-wide impact would be more likely “if we were to see sustained tariffs on a range of countries including 25% tariffs on Mexico and Canada.”