Stock indexes drop on Powell's remarks on tariffs, chip stocks face losses.

From Nasdaq: 2025-04-16 15:05:00

Stock indexes dropped today, with the S&P 500, Dow Jones, and Nasdaq all down. Fed Chair Powell’s comments on tariffs causing concerns. Cleveland Fed President Hammack hinted at a possible rate cut. Chip stocks faced losses. US economic news exceeded expectations. China demands respect in trade talks.

US retail sales rose in March, manufacturing production increased, and the NAHB housing market index unexpectedly went up. The WTO slashed global trade forecasts due to US tariffs. Trump’s trade policies impact the market. Dollar weakens, gold hits all-time high. Market awaits news on US trade policies and earnings reports.

Overseas markets show mixed results. Interest rates fluctuate. European bond yields lower. UK inflation data released. ECB likely to cut rates. Chip stocks like Nvidia and AMD suffer due to bans. Energy stocks rise. Some companies report better-than-expected earnings, while others face downgrades.

US stock movers include companies like Nvidia, Apple, and Tesla facing losses, while energy producers like Devon Energy and Marathon Petroleum see gains. Interactive Brokers Group and JB Hunt Transport Services report disappointing results. Abbott Laboratories and United Airlines Holdings post stronger earnings. Newmont and Lockheed Martin receive upgrades.

Earnings reports for April 16 include companies like Abbott Laboratories, Alcoa Corp, and US Bancorp. Market commentary from Barchart. Remember, all information is for informational purposes only. Check out the Barchart Disclosure Policy for more details.



Read more at Nasdaq: Stocks Extend Losses on Cautious Powell Remarks