The S&P 500 increased by 0.3%, and the Nasdaq increased by 0.5%, trading at approximately $6,000. In contrast, the Dow Jones dropped about 180 points. This mixed result happened as traders considered Donald Trump’s recent threats to raise tariffs.
10% China Tariffs and 25% North American Duties Planned
Trump tweeted that he plans to add a 10% tariff on goods from China. He also wants a 25% tariff on imports from Mexico and Canada. This news initially shook the markets. Futures prices fell, and the dollar became stronger. Investors are worried about global trade issues and the chance of higher inflation.
Meanwhile, traders are waiting for the Federal Reserve’s meeting minutes, which will be released later today. They hope to learn more about the Fed’s plans for its next meeting.
Tech Stocks Rise as Apple and Nvidia Lead Gains
The technology sector performed the best. Companies like Apple (up 0.7%), Nvidia (up 1.8%), Microsoft (up 0.8%), Amazon (up 1.4%), Meta (up 0.5%), Tesla (up 0.2%), and Alphabet (up 0.5%) all saw gains. On the other hand, material stocks had the biggest losses.
Automaker stocks went down. General Motors fell by 5.6%, and Ford decreased by 2.3%.
