Advertisment
Stocks dipped on Wednesday due to pressure by tech shares, as traders continue to grapple with uncertainty on the tariff front.
The Dow Jones Industrials skidded 45.03 points to 42,542.47.
The S&P 500 Index faltered 50.24 points to 5,726.21
The NASDAQ dumped 303.67 points, or 1.7%, to 17,968.73.
The three major indexes bounced back this week as investors scooped up shares of beaten-down stocks, taking advantage of the market’s recent selloff. The S&P 500 and NASDAQ each climbed 1% week to date, while the 30-stock Dow added 1.3%.
Nvidia shares tumbled more than 5.5%, while Tesla lost about 5%. Alphabet, Amazon and Meta each declined by more than 1%.
Wall Street is watching for signs that could indicate a rise in inflation and a potential economic slowdown, and investors continue to parse through President Donald Trump’s mixed messaging on tariffs ahead of his April 2 start date for reciprocal tariffs.
Trump said in an interview with Newsmax on Tuesday said that tariffs will likely be more “lenient than reciprocal.” That softened stance adds onto reports from earlier this week that the duties could be narrower in scope and that sector-specific tariffs are expected to be delayed.
Prices for the 10-year Treasury faded Wednesday, hiking yields to 4.33% from Tuesday’s 4.32%. Treasury prices and yields move in opposite directions.
Oil prices gained 84 cents to $69.84 U.S. a barrel.
Prices for gold handed back $2.90 to $3,023 U.S.
