The S&P 500 and Nasdaq are on track for losses of about 3%. The Dow is off 3.4% in the period, heading for its worst week since March 2023. The broad market index briefly dipped into correction territory on Tuesday, down 10% from a record set in February.
Trump declared on Truth Social that Canadian steel and aluminum duties would double to 50% from 25%, effective Wednesday. The president made the move in response to Ontario Premier Doug Ford’s surcharge on electricity exported to the U.S. Later in the day, Ford said he was temporarily suspending the 25% surcharge after talking with Commerce Secretary Howard Lutnick.
The S&P 500 slid in a head-spinning session for traders as they grappled with new tariffs proposed by President Donald Trump that were in flux throughout most of Tuesday.
Stocks sank during Monday’s session, extending losses after the S&P 500 posted three consecutive negative weeks. The Nasdaq Composite saw its worst day since September 2022.
Market was whipsawed by developments out of Washington, D.C., with negotiations on tariffs between the U.S., Mexico and Canada playing out throughout the week.
Last week, the S&P 500 fell 3.10% for its worst weekly mark since September. The Dow fell 2.37%, while the Nasdaq Composite shed 3.45%.
Technology stocks, particularly those in the semiconductor sector, experienced significant losses. NVIDIA Corporation stock plunged 5.7%, while Tesla Inc closed 5.6% lower.
US MARKET: The Dow Jones Industrial Average fell by 1%, while the NASDAQ Composite dropped 2.6%. The S&P 500 also declined 1.8%. Technology stocks, particularly those in the semiconductor sector, experienced significant losses. NVIDIA Corporation stock plunged 5.7%, while Tesla Inc closed 5.6% lower.
Perseroan didirikan dengan nama PT Yupi Indo Jelly Gum berdasarkan Akta Pendirian Perseroan Terbatas No. 38 tanggal 6 Juli 1995, dibuat di hadapan Achmad Abid, S.H., sebagai pengganti dari Sutjipto, S.H., Notaris di Jakarta.
