US stock markets on Wallstreet closed lower as major indices faced pressure from a sharp sell-off in technology stocks and renewed concerns over trade tariffs. The S&P 500 fell by 1.1%, closing at 5,712.20, while the Dow Jones Industrial Average dropped 0.3% to end at 42,454.79.
The Nasdaq Composite led the losses, declining by 2% to finish at 17,899.01. The Russell 2000, which tracks smaller companies, also fell by 1%, closing at 2,073.83
These losses were attributed to valuation concerns and investor anxiety over President Donald Trump’s newly announced 25% tariff on imported automobiles, set to take effect on April 2. The announcement also impacted automotive stocks, with General Motors and Ford showing volatility.
Economic Data Affected Investors in Wallstreet.
Economic data added to the market’s cautious sentiment on WallStreet. The Conference Board’s Consumer Confidence Index fell to 92.9, marking a four-year low, while durable goods orders for February showed an unexpected increase as businesses stockpiled inventory ahead of potential cost hikes.
US Treasury yields rose, with the 10-year yield climbing to 4.35%, reflecting inflation concerns linked to the tariffs. Federal Reserve officials expressed differing views on the potential impact of these trade policies, with some suggesting that tariff-driven inflation could lead to prolonged rate hikes.
Market analysts highlighted the challenges posed by policy uncertainty. Michael Brown of Pepperstone noted, “Tariff uncertainty is extremely high. Businesses and consumers can’t plan even a day ahead, and markets can’t price risk effectively.”
Meanwhile, Jamie Cox of Harris Financial Group emphasized that “markets hate tariff uncertainty—especially in the auto sector”
Also Read: US Markets Edge Higher Amid Mixed Sentiments
