From Yahoo Finance: 2025-05-05 05:58:00

The S&P 500 ended its nine-day winning streak as Trump announced a 100% tariff on foreign movies. Markets react to tariff uncertainty and OPEC+ output hikes, with energy stocks falling 2%. Berkshire Hathaway shares drop 5.1% after Buffett’s CEO announcement. Fed’s policy announcement Wednesday to keep rates steady, investors eyeing Powell’s commentary for future policy adjustments. Tariffs causing inflation pressures, with markets expecting 75 basis points of rate cuts by 2025. Companies like Tyson Foods miss revenue expectations, while Skechers surges 24.3% in a $9.4 billion deal.

Read more: S&P 500 snaps 9-session win streak after latest Trump tariff