From Financial Modeling Prep: 2025-02-04 01:58:31

The S&P 500 closed down 0.50% on Friday at 6,040.53 as Trump’s new tariffs took effect on key trading partners. The Dow fell 0.75% to 44,544.66, with Chevron weighing it down. The Nasdaq slipped 0.28% to 19,627.44, ending the week down 1.6%.

January saw gains despite volatility:
✅ S&P 500: +2.7%
✅ Nasdaq: +1.6%
✅ Dow: +4.7%

Trump’s tariffs spark a new trade war, impacting Mexico, Canada, and China. Mexico and Canada face a 25% tariff, China a 10% duty to curb fentanyl imports and illegal immigration. Immediate retaliation expected from affected countries.

Market closely watching global trade tensions for potential inflation and supply chain disruptions. Trade tensions escalating could lead to further downside risk in the markets in the upcoming weeks.



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