Stocks closed lower due to President Trump's tariffs on multiple countries

From Nasdaq: 2025-02-03 19:58:40

Stock indexes closed lower on Monday, with S&P 500, Dow Jones, and Nasdaq down. Global markets reacted to President Trump’s tariffs on Canada, Mexico, and China. Goldman Sachs warned of a 5% stock decline, while RBC estimated 5-10%. US ISM manufacturing and construction reports provided some support, with interest rates up slightly.

Apple, Dell, and PDD Holdings were among the companies hit by China tariffs, leading to stock declines. Automobile makers like Tesla and General Motors also fell. Moderna and FedEx saw losses, while asset managers like Blackrock and Invesco slid. Homebuilding stocks and Constellation Brands also dropped.

Defensive healthcare stocks like Molina Healthcare and AbbVie rallied amidst the broader market decline. Tyson Foods and Baker Hughes also saw gains. Triumph Group surged after acquisition news. Earnings reports from companies like AMD, Alphabet, and Amgen were anticipated. Meta Platforms rose after plans for AI-powered wearables.

Overall, market movements were impacted by trade tensions, interest rates, and individual company performances. Earnings reports and geopolitical developments will continue to influence market direction in the coming days.



Read more at Nasdaq: Stocks Finish Lower on Tariff Uncertainty