Market under pressure as Trump increases tariffs on Canada, impacting stocks negatively.

From Nasdaq: 2025-03-11 14:22:28

The S&P 500, Dow Jones, and Nasdaq Indexes are mixed today. Stocks initially rose but turned lower, with S&P and Dow hitting 5-3/4 month lows after President Trump announced increased tariffs on Canadian steel and aluminum. March E-mini futures are down for S&P and up for Nasdaq.

US economic news showed strength with Jan JOLTS job openings exceeding expectations. Verizon and Delta Air Lines lead declines in telecommunication and travel stocks due to profit warnings. Fear of global trade war from US tariffs weighs on markets.

Focus this week on US CPI and PPI reports, trade policies, and government spending bill. Markets discount 4% chance of rate cut at next FOMC meeting. Overseas markets are mixed, with Euro Stoxx 50 down and Shanghai Composite up.

Interest rates fluctuate with T-notes initially lower but recovering as stocks retreat. 10-year T-note yield down. European bond yields rise. Swaps predict 51% chance of ECB rate cut in April. Stock movers include tech, travel, and telecommunication sectors.

Chip stocks slide, impacting market. Teradyne leads S&P 500 losers, Oracle reports weaker revenue. Cybersecurity stocks climb after cyberattack claims. Southwest Airlines leads S&P 500 gainers. GE Healthcare upgraded. Earnings reports include Casey’s, Ciena, Dick’s Sporting Goods, Ferguson Enterprises, and Kohl’s.



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