President Trump announces increased tariffs on Canada, causing mixed reactions in stock market

From Nasdaq: 2025-03-11 16:27:18

In afternoon trading, the S&P 500 is up +0.01%, Dow Jones is down -0.53%, and Nasdaq 100 is up +0.64%. Stock indexes rallied off earlier lows after President Trump announced increased tariffs on Canada. Markets reacted to fears of a global trade war impacting economic growth and earnings.

President Trump’s tariff announcements caused stock indexes to hit 5-3/4 month lows earlier in the day. The Jan JOLTS job openings report showed strength in the labor market. Economic focus this week will be on US CPI, PPI reports, and trade policies. Congress faces deadline for spending bill to avert government shutdown.

T-note prices initially fell on strong job openings data and upcoming Treasury auctions. Interest rates recovered later on declining inflation expectations. European bond yields are rising, while swaps predict a rate cut by the ECB in April. Overseas stock markets show mixed performance.

Stock movers include Tesla, Nvidia, Amazon, Microsoft up, while Delta Air Lines, Verizon Communications, and travel stocks are down. Chip stocks like GlobalFoundries, ON Semiconductor, and NXP Semiconductors are sliding. Teradyne, Oracle, Kohl’s, and Ferguson Enterprises report losses.

Cybersecurity stocks surge after Elon Musk’s cyberattack claim. Southwest Airlines leads gainers in the S&P 500. GE Healthcare, Elevance Health, and ASML Holding NV also see gains. Earnings reports for 3/11 include Casey’s General Stores, Ciena Corp, Dick’s Sporting Goods, and Kohl’s Corp.



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