From Nasdaq: 2025-02-26 09:29:00

U.S. stocks closed mostly lower on Tuesday, with the S&P 500 and Nasdaq seeing their fourth consecutive day of losses due to disappointing consumer confidence data and news of 25% tariffs on Canada and Mexico by President Trump. The Dow Jones Industrial Average, however, gained 0.4% to close higher at 43,621.16 points.

The S&P 500 fell 0.5% to 5,955.25 points, with tech, communication services, and energy stocks being the worst performers. The Nasdaq also dropped 1.4% to 19,026.29 points. The fear-gauge CBOE Volatility Index (VIX) rose 2.39% to 19.43.

Stocks took a hit following a weaker-than-expected consumer confidence reading, with the index dropping to 98.3 in February, its lowest level since August 2021. This marks the third consecutive month of decline in consumer confidence, raising concerns about the economy’s health.

Amid fears of a trade war, President Trump announced that the 25% tariffs on Canadian and Mexican imports will go into effect next month. Investors are also anxiously awaiting the personal consumption expenditure (PCE) inflation report later this week for further insight into the economic landscape.



Read more at Nasdaq: Stock Market News for Feb 26, 2025