Stocks down due to trade tensions, Trump threatens tariffs, EU progress, Tesla criticism

Stocks in the S&P 500, Dow Jones, and Nasdaq are down today due to renewed trade tensions. President Trump threatens tariffs on countries not aligning with US policies. Treasury Secretary announces tariff extension possibility. EU and US make progress on trade deal. Tesla plummets after Trump criticism and political party announcement. Earnings season starts with modest expectations.

Markets await tariff news, FOMC meeting minutes, and jobless claims. Federal funds futures suggest a 5% chance of a rate cut. Overseas markets mixed. T-notes down on Trump’s budget plan. European bond yields rise. Sentix investor confidence up, Eurozone retail sales down, German industrial production rises. ECB expected to cut rates by 25 bps. Tesla stock drops after Musk’s political party announcement.

Chip stocks drag market lower. Webull down after equity purchase agreement. Stellantis NV and CrowdStrike Holdings downgraded. MGM Resorts International stock under pressure. WNS Holdings surges on acquisition news. Geo Group and CoreCivic up on spending bill. Phibro Animal Health and Tractor Supply Co rise on upgrades and positive sales. Public Service Enterprise Group also gains.

GE Vernova rises after UBS coverage initiation. No earnings reports scheduled for today. Market outlook hinges on trade developments, FOMC meeting minutes, and economic data. Stay informed with Barchart Brief newsletter.

Read more at Nasdaq: Trade Tensions Weigh on Stocks Ahead of Wednesday’s Tariff Deadline