Stock Market Today: Live Updates
U.S. Stock Market Indexes Plummet, Trump’s Tariffs Take Effect
U.S. stock market indexes continued to see a sharp decline today, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all experiencing significant losses. The decline was largely attributed to President Donald Trump’s announcement that the U.S. would impose a 25% tariff on Canada and Mexico, effective today.
Market Reactions
Futures tied to the Dow Jones Industrial Average added 20 points, or 0.04%, while S&P 500 futures and Nasdaq 100 futures rose 0.1% and 0.18%, respectively. In the regular trading session, the S&P 500 plummeted 1.76%, the Dow Jones Industrial Average fell 1.48%, and the Nasdaq Composite shed 2.64%.
Sector Performance
The information technology sector felt the impact of the market volatility, with Nvidia and Broadcom declining 9% and 6%, respectively. The consumer staples sector was the only bright spot, gaining 0.6%, while the healthcare sector rose 0.4%.
Expert Insights
Scott Ladner, chief investment officer at Horizon Investments, does not see the market bouncing back anytime soon. "We don’t see the market going a whole lot of anywhere really fast. We are at a place where sentiment is really in the toilet and that makes getting reversals out of this probably a little bit of a slog," he said.
However, Lander noted that the U.S. economy is still growing, with companies seeing earnings growth of between 10% and 15%. "We’re not heading into a recession. We’re not even having an earnings recession. There’s really nothing out there right now that we can see that should really fully dent corporate earnings power. Our medium-term view is still really positive," he added.
Economic Calendar
The New York Federal Reserve President, John Williams, is set to speak today in New York, providing key insights on the economic outlook.
Upcoming Earnings Reports
Tonight, Best Buy, AutoZone, Target, and CrowdStrike will release their earnings reports, providing another view into the state of the market.
Stock Market Today: Live Updates
As the market continues to evolve, stay up-to-date with our live updates, analysis, and expert insights on the stocks that matter most. Despite the volatility, there are still opportunities to be found. Stay ahead of the curve and make informed decisions with our expert guidance.
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