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Stocks close lower as Trump's tariff barrage continues

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All three of the major averages (^DJI, ^GSPC, ^IXIC) closed lower on Thursday. Stocks traded in the red much of the day as concerns about President Trump's latest tariffs weighed on sentiment.

Market Domination Overtime Anchor Julie Hyman and Yahoo Finance Markets and Data Editor Jared Blikre break down the action at the close.

To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.

00:00 Speaker A

That's the closing bell on Wall Street, and now it's market domination overtime. We're joined by Jared Blickry. He's gonna get you up to speed on the action from today's session in a moment. I'm gonna start with where we ended the session down across the board, not quite at the lows of the session, but close here. The Dow off 155 points, about a third of 1%. This on reaction to imposition of auto tariffs set to take effect next week of 25% on all imported autos into the United States. So some concerns about that, concerns about the effect on growth and on inflation here. Uh, the S&P 500 finishing lower by a third of 1% as well, but it bounced around during the session and the Nasdaq down a half a percent when all was said and done. Jared's got a closer look at today's action. Hey, Jared.

01:12 Jared

Thank you, Julie. Uh, not a lot happening in the indices, though. Uh, slight down day, uh, but let's take a look at what's happening with the VIX, which was up just slightly. I believe that's a second day in a row, and let's put a year-to-date chart on so we can see, uh, just off of the lows here, but, uh, not too much of a reaction to the upside. Here's a 10-year T-note yield, which has been moving opposite the dollar recently, and it's not the magnitude of the move, uh, it's really that the correlation with the dollar has changed. And that's something we're seeing today. The, uh, the yield is up three basis points while the dollar is down about a quarter of a percent, so moving in the opposite direction just tells us we have a different playbook at play here. And if you take a look at the winning sectors, a lot of that is, uh, just kind of defensive staples, up 1.13%, healthcare in second place, consumer discretionary barely positive there. And then energy, which was leading early on, that is, uh, in the last place next to tech, or tech is next to that. And then you have industrials. So kind of an odd leadership and laggardship position for lack of a better word. And if we take a look at the Nasdaq 100, where we really saw this big selloff in the mega caps, uh, only yesterday, Nvidia's down a bit, down 2%, Alphabet, meta down more than 1%, Broadcom down 4%, but we're seeing some green, and it's just kind of a mixed board here. So not really seeing commitment to one direction or the other, broad themes are kind of difficult to figure out today. And if we take a look at some of my leaders here, chip stocks and software leading to the downside along with Ark components. So just broadly, we're seeing a lot of weakness in the tech space. And here's a software, aside from Microsoft, which is taking up a lot of space there. You take a look at the equal weight, mostly right on your screen. You take a look at the semiconductors, even more red outside of Intel, which is up today. And then Ark, which is the smaller components, you take Tesla out of there, a lot more red than green. So maybe if there's a theme to be divined today, it is that tech is just broadly not in favor.