From Yahoo Finance.: 2025-03-26 20:26:00

Global stocks fell for a second day as Trump’s new tariffs on autos expanded the trade war. U.S. automakers slumped, while Tesla and Rivian rose. Markets are cautious about Trump’s policies, impacting the Dow, S&P, and Nasdaq. European stocks also closed lower amid concerns about tariffs’ effects on the global economy.

Gold hit a record high at $3,059.30, prompting Goldman Sachs to raise its forecast to $3,300. The dollar index dipped, with the euro up at $1.0795. The Mexican peso and Canadian dollar weakened against the dollar due to expected impacts of auto tariffs. Trump plans to impose reciprocal tariffs on all countries by April 2.

Canadian Prime Minister Mark Carney threatens trade actions in response to Trump’s auto tariffs. U.S. data shows a solid labor market, but long-term effects of tariffs and federal worker cuts remain uncertain. The economy grew slightly faster in Q4. Treasury yields rose, and oil prices increased as investors assess trade war escalation impacts.

Read more: Stocks down, gold hits record after Trump’s latest tariff volley