Market closed lower on concerns over new tariffs, but slightly recovered on Ukraine news

From Nasdaq: 2025-03-12 09:19:00

Wall Street closed sharply lower on Tuesday as concerns about new tariff announcements and reversals weighed on investor sentiment. The Dow Jones fell 1.1%, the Nasdaq lost 0.2%, and the S&P 500 declined 0.8%. The fear-gauge VIX decreased 3.4%, with 19.01 billion shares traded. Verizon and Apple shares slid due to market uncertainty.

President Trump initially announced double tariffs on steel and aluminum from Canada, but later reversed course after a backtracking by Ontario Premier Doug Ford. The move caused market weariness over U.S. trade policy uncertainty. Doug Ford’s tariff imposition would have jeopardized over 1 million U.S. homes. The markets continue to react to Trump’s tariff announcements and reversals.

Shares of Verizon Communications Inc. and Apple Inc. slid due to market uncertainty surrounding Trump’s trade policy. The U.S. agreed to resume military aid and intelligence sharing with Ukraine, leading to a slight market recovery. No economic data was released on Tuesday. U.S. Secretary of State Marco Rubio said the U.S. would propose a 30-day ceasefire with Russia.



Read more at Nasdaq: Stock Market News for Mar 12, 2025