Trump's announcement of tariffs on auto imports led to a drop in U.S. stocks

From Nasdaq: 2025-03-27 09:32:00

U.S. stocks closed lower on Wednesday as investors awaited President Trump’s tariff announcement on auto imports. The Dow fell 0.3%, the S&P 500 dropped 1.1%, and the Nasdaq slid 2%. Tech stocks took a hit. Trump’s announcement of tariffs raised fears of a trade war, impacting consumer sentiment.

Trump’s plans for hefty tariffs on foreign-made vehicles and auto parts caused shares of GM and Stellantis to decline. The announcement comes amid fears of a trade war, with Trump expected to announce more tariffs next week. Tech stocks, including Tesla, Meta Platforms, and Amazon, saw declines.

In economic news, durable goods orders rose 0.9% in February, beating expectations of a 1% decline. The fear of trade wars has been affecting investor sentiment, with the S&P 500 and Nasdaq already in correction territory. Tech stocks were hit hard on Wednesday, with Tesla, Meta Platforms, and Amazon all experiencing declines.



Read more at Nasdaq: Stock Market News For Mar 27, 2025