From Nasdaq: 2025-05-23 11:43:00

Stock indexes are down, with the S&P 500, Dow Jones, and Nasdaq 100 all falling to lows. Trade tensions and fiscal concerns are driving losses, with President Trump’s tariff threats affecting Apple and tech stocks. Futures sank further when a 50% tariff on EU goods was threatened for June 1.

US assets face pressure from trade war, credit rating downgrade, and budget deficit worries. Bond yields are lower, limiting stock losses. Q1 earnings show 77% beat estimates, with +13.1% growth surpassing expectations. Overseas markets vary, with Euro Stoxx down -2.96% and Japan’s Nikkei up +0.47%.

10-year T-notes climb on safe-haven demand, with yields at 4.489%. ECB hints at rate cuts in June, with swaps indicating 100% chance of -25 bp cut. European bond yields drop, while German Q1 GDP is revised upward. UK retail sales exceed expectations, signaling positive economic activity.

Chip stocks lead market decline, with Qualcomm, Microchip, and Apple down over -2%. Deckers Outdoor, Booz Allen Hamilton, and Ross Stores all forecast lower-than-expected results, leading to significant stock drops. Nuclear power stocks rise after reports of eased regulations, while gold mining stocks gain with higher gold prices.

Intuit leads gainers with Q3 revenue beat and raised forecast. Seagate Technology gains on price target raise. Earnings reports for American Vanguard, Booz Allen Hamilton, and others are due. Author Rich Asplund had no positions in securities mentioned. All information in the article is for informational purposes.



Read more at Nasdaq: Stocks Slump as President Trump Threatens Tariffs on EU and Apple