Stocks are down due to trade tensions resurfacing, with upcoming tariff deadline looming.

The S&P 500, Dow Jones, and Nasdaq are all down today due to trade tensions resurfacing. President Trump plans to announce new tariffs, particularly targeting countries aligned with the BRICS group. Treasury Secretary Bessent announced a new effective date for higher tariffs, with the EU and US nearing a trade agreement.

Stocks are reacting to the fiscal stimulus bill signed by President Trump, boosting the US economy but also increasing the deficit. Tesla’s stock is down over 6% after Trump criticized Elon Musk’s political ambitions. The upcoming earnings season is a concern, with projections showing the smallest increase in two years for S&P 500 companies.

Markets are focused on tariff news and trade deals as the week progresses. Overseas markets are mixed, with the Euro Stoxx 50 up and China’s Shanghai Composite slightly up. Interest rates are shifting, with T-notes down and European government bond yields rising. Economic data from the Eurozone and swaps predicting an ECB rate cut are also in focus.

Chip stocks are dragging the market down today, with major companies like Marvell Technology and AMD seeing declines. Webull is down over 11% due to a new equity agreement, while Stellantis NV, Travelers Cos, and CrowdStrike Holdings are also facing losses. On the positive side, WNS Holdings, Phibro Animal Health, and Tractor Supply Co are all up.

Read more at Nasdaq: Stocks Pressured Ahead of Wednesday’s Tariff Deadline