Markets Brace for Tariffs, Stocks Skid
Stocks dropped Wednesday as Wall Street braced for the expected rollout of President Donald Trump’s tariffs.
The Dow Jones Industrials retreated 78.99 points to 41,910.97
The broader index regained 14.37 points to 5,618.70
The NASDAQ slumped 52.43 points to 17,397.46.
Tesla shares weighed on the broader market, losing about 3% after the company reported disappointing deliveries for the first quarter.
The moves come ahead of the implementation of a raft of Trump’s “reciprocal tariffs” that will “start with all countries.”
Tesla shares weighed on the broader market, losing about 3% after the company reported disappointing deliveries for the first quarter.
The moves come ahead of the implementation of a raft of Trump’s “reciprocal tariffs” that will “start with all countries.”
The White House revealed Tuesday that the levies “will be effective immediately” after being unveiled at an event in the Rose Garden.
Details are still scarce. The administration as of Tuesday had yet to decide on the tariff levels and was still considering several options, according to a report from Bloomberg News
Prices for the 10-year Treasury gained ground, lowering yields to 4.15% from Tuesday’s 4.17%. Treasury prices and yields move in opposite directions.
Oil prices eked up eight cents to $71.28 U.S. a barrel.
Prices for gold brightened $11.50 to $3,157.60 U.S.
