In This Article:
US stock market averages (^DJI, ^IXIC, ^GSPC) cap off Tuesday's session in negative territory, the Dow Jones Industrial Average closing 1.14% lower after President Trump announced plans to bump up his steel and aluminum tariffs against Canada to 50%.
Market Domination Overtime's Julie Hyman and Yahoo Finance markets and data editor Jared Blikre recap the day's market and sector action.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
That's the closing bell on Wall Street and now it's Market Domination Overtime. Jared Blickre gonna be along in a moment to get you up to speed on the action from today's trade. Let's start with the major averages here because as we talked about earlier, it was another roller coaster day, right? So we had some markets end up. It started out in the green, but really just a lot of volatility over the course of the session following closely the tariff headlines from President Trump introducing the idea of a 50% steel and aluminum tariff on imports from Canada to later in the day saying, "Well, maybe that wasn't going to happen because the Ontario or Ottawa, excuse me had Ontario had pulled back from the idea of an electricity tariff of 25%." A lot of competing headlines out today. So we saw that really reflect in the market S&P 500, which was briefly in the green in the 3 PM hour finishing lower by three quarters of 1% here and the Nasdaq as well. We really saw when markets were in the green. It was really Tech that took it there. But even the Nasdaq finishing lower by about a 5th of 1%. Jared, who always knows the difference between Ontario and Ottawa, take it away.
I I'm from Miami. I I actually don't, but I'm gonna pick it up from here. So, let's check out the VIX. The VIX is knocking on 30, didn't quite hit it. Uh, it's come down a little bit, but as I keep saying, it has just been ratcheting higher. Seems very comfortable hanging out in these upper echelons here. Typically, you would expect the markets to reverse upwards. So the stocks and risk markets should reverse upwards at this point. Uh, we had kind of the beginning of it at the open today, but we didn't get a lot of follow-through. I will say at least some of the stuff that was hit hardest yesterday was able to bounce back, although you wouldn't see you wouldn't notice it from looking at this. This screen right here shows Tech is the best off, but it was still down about half a percent. Industrials down one and a half percent, so is communication services, so is staples, uh, and then the rest of the line also off by about 1%. So another negative day here, but here's what I was talking about. In the Nasdaq 100, the very largest of the large caps, for the most part bouncing back today. Apple, a notable exception. It's still number one there, uh, and it was down 3% today. Alphabet down 1%. But here's Tesla up almost 4%. There's Broadcom up 3%. And let me just show you the two-day, lest we forget what happened yesterday. Still a very, very red board. Uh, put this back and let me take a look at the leaders real quick, then I'll kick it back to you guys. Bitcoin on the way up today. So is China. China has been a one bright spot a lot of times this year. And then within Tech, we did see some of the smaller names looking pretty good. So, um, unprofitable Tech was, it was a day for that. But, uh, not the rest of the days this year apparently. So on that note, I will send it over to you, Josh.
All right, thank you, Jared.