Wall Street indexes extended five-day losses to more than 12% after the trade war between the U.S. and China escalated and Trump's import taxes kicked in.
Stock market indexes rebounded after a 3-day sell-off as investors shifted focus to the start of earnings season with five leading banks reporting on Friday.
Volatility with a downward bias dominated market sentiment on Wall Street, as the Trump administration's tariff defense failed to ignite support among investors. Global markets plunged with the indexes in China, Japan, and South Korea reporting historic losses.
The S&P 500 and the Nasdaq Composite sank closer to bear territory and extended weekly losses to over 6% after Trump's tax roiled world markets, pushed the U.S. economy closer to a recession, and shook confidence in the presidential administration.
Wall Street indexes lacked direction and traded in a tight range amid ongoing Trump import tax confusion and chaos. U.S. new orders for manufactured goods increased for the second consecutive month in March, and private sector payrolls expanded at a faster pace in February.
The S&P 500 index and the Nasdaq Composite extended losses amid rising risks of economic recession following the chaotic trade policy of the Trump administration.
Wall Street indexes deepened losses to correction territory ahead of the start of the reciprocal tariff wars on April 2 launched by the White House. Economists are dialing down first quarter economic growth expectations to close to zero.
The S&P 500 index and the Nasdaq Composite dropped nearly 2% and extended weekly losses to 4% after the latest inflation update confirmed persistent upward pressures on prices.
Investor anxieties rose after the White House announced another round of tariffs targeting global automobile makers and stressed that import taxes are likely to stay over the next four years.
Wall Street indexes faced renewed selling pressure amid Trump's tariff confusion and constantly changing narrative. Investors are worried that the lack of clarity and a clear plan for import tax are slowing down economic growth.
Wall Street indexes rebounded after yet another flip-flop on tariffs by the White House, and business activities expanded at the fastest pace in three months in March.
Trump tariff turmoil is deepening economic uncertainty and raising fears of a global economic slowdown as leading companies signal rapidly weakening sales. The S&P 500 index and the Nasdaq are set to extend losses to the fifth consecutive week.
Wall Street indexes struggled to advance following a rebound in the previous session, and existing home sales edged higher from the previous month. Markets are likely to tread water over the next two weeks until tariff uncertainty is lifted.
The Federal Reserve is widely anticipated to hold the fed funds rate range steady and lower the outlook for additional rate cuts this year amid a lack of economic policy clarity from the Trump administration.
