Stocks fell over 1.4% as US imposes tariffs on Canada, Mexico, and China

From Nasdaq: 2025-02-03 13:36:06

Stock indexes plunged today as the S&P 500, Dow Jones, and Nasdaq all fell over 1.4%. President Trump’s announcement of tariffs on Canada, Mexico, and China sparked fears of a trade war, with Goldman Sachs warning of a potential 5% stock decline. Earnings season continues with tech giants reporting this week. Overseas markets are also down sharply.

Interest rates rose for March 10-year T-notes, but fears of inflation from tariffs limited gains. European government bond yields fell, with Eurozone CPI beating expectations. ECB is considering looser policy. US stock movers include automakers, chip makers, and companies affected by tariffs. Defensive healthcare stocks saw gains amidst market turmoil.

Meta Platforms plans to release AI-powered wearables, while Saia and Tempur Sealy report strong earnings. Several companies are set to release earnings reports soon. European markets are affected by global concerns, with bond yields falling. ECB is expected to cut rates in March. The market remains volatile with trade war fears and economic uncertainties.



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