The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.33%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.37%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.59%. June E-mini S&P futures (ESM25) are down -0.32%, and June E-mini Nasdaq futures (NQM25) are down -0.61%.
Stock indexes on Thursday partially recovered from early losses and settled mixed. Stocks were under pressure Thursday after President Trump pushed ahead with additional tariffs that threaten to derail economic growth and boost inflation. Late Wednesday, President Trump signed a proclamation to implement a 25% tariff on US auto imports, effective April 3, and said further tariffs would be imposed on the European Union and Canada if they worked together “to do economic harm” to the US. The tariffs will initially target vehicles fully assembled outside the US and, by May 3, will expand to include automobile parts made outside of the US. Mr. Trump said the tariffs were “permanent,” and he was not interested in negotiating any exceptions.
