From Yahoo Finance: 2025-06-02 12:09:00

Shares of Ford and other U.S. automakers dropped as President Trump announced plans to double steel tariffs to 50%. Meanwhile, U.S. equities were mixed following China’s accusation of violating a trade deal. Moderna stock rose after FDA approval for its COVID-19 vaccine mNEXSPIKE for adults 65+ and those 12-64 with underlying risk factors.

The Dow Jones fell 0.5%, S&P 500 slipped 0.1%, while Nasdaq rose 0.2%. SAIC shares dropped after reporting below-expectation profits. General Motors, Ford, and Stellantis stocks tumbled after Trump’s steel tariff announcement. Cleveland-Cliffs, Steel Dynamics, and Nucor saw stock gains due to the news.

Moderna shares gained after FDA approval for mNEXSPIKE vaccine. Blueprint Medicines stock soared as Sanofi agreed to acquire the biopharma firm for up to $9.5 billion. Oil and gold futures surged, Treasury note yield rose, and the U.S. dollar weakened against major currencies. Major cryptocurrencies had a mixed performance.

Read more: Ford, Cleveland-Cliffs, Moderna, and More