Stock indexes down on trade tensions, impacted by President Trump's threat of tariffs

From Nasdaq: 2025-03-13 14:53:38

Stock indexes are down today, with the S&P 500, Dow Jones, and Nasdaq all showing losses. Trade tensions, specifically President Trump’s threat of tariffs on European alcohol, are impacting market sentiment. The Magnificent Seven stocks are also declining, contributing to the overall market weakness.

US economic news is positive, with weekly jobless claims dropping unexpectedly and producer prices rising less than expected. Trade tensions, including tariffs on Canadian, Mexican, and Chinese goods, have been a concern for investors. The EU and Canada have retaliated with tariffs on US products, adding to market uncertainty.

This week will focus on US trade policies and the University of Michigan’s consumer sentiment index. The chance of a rate cut at the next FOMC meeting is low. Overseas markets are down, with European bond yields lower. Eurozone industrial production is up, and the ECB expects inflation to return to target.

Stock movers include Tesla, Meta Platforms, and Alphabet in the red, while Intel leads gainers after announcing a new CEO. Chip stocks like Microchip Technology and Qualcomm are up. Adobe and UiPath are down, while Dollar General and mining stocks like Newmont and Freeport McMoRan are climbing.

Earnings reports today include DocuSign, Dollar General, Ulta Beauty, and Williams-Sonoma. Analyst upgrades and downgrades are impacting stocks like Paccar and Moelis & Co. Overall market sentiment is cautious due to trade tensions and uncertainty surrounding tariffs and economic growth.



Read more at Nasdaq: Stocks Slide on Tariff Concerns