Stocks are down as market fears Trump's tariffs announcement, impacting economic growth and earnings.

From Nasdaq: 2025-04-02 12:53:00

Stock indexes are down today in anticipation of President Trump’s tariffs announcement after the markets close. The S&P 500, Dow Jones, and Nasdaq 100 are all lower, with June E-mini S&P and Nasdaq futures also in the red.

Positive US labor market news did little to bolster stocks. The ADP employment change beat expectations, while MBA mortgage applications fell. Fear of US tariffs impacting economic growth and earnings persists.

Market attention shifts to Thursday’s ISM services index and Friday’s nonfarm payrolls report. The Fed’s potential rate cut after the May FOMC meeting is at 19%.

Overseas stock markets show mixed results, with the Euro Stoxx 50 down and China’s Shanghai Composite up. Interest rates are rallying as US tariffs could lead to a recession, while European bond yields are moving lower.

Stock movers today include Tesla, Nvidia, and Alphabet in the tech sector. Pharmaceutical and chip makers are under pressure, with nCino down over 24%. DoorDash is a standout gainer after Domino’s partnership news.

Caesars Entertainment, Rocket Cos, Charles Schwab, and Fiserv see positive movement. Earnings reports for April 2 include AngioDynamics Inc, Franklin Covey Co, and RH among others.



Read more at Nasdaq: Stocks Slip Ahead of President Trump’s Tariffs Announcement