01.04.202518:33:58UTC+00US Stocks Slip as Tariff Fears and Weak Data Weigh

U.S. equities erased earlier gains during Tuesday's afternoon session due to investor apprehension concerning President Trump's impending tariffs and disappointing economic indicators. The S&P 500 declined by 0.4%, the Dow Jones Industrial Average dropped more than 200 points, while the Nasdaq remained mostly unchanged. The White House announced that reciprocal tariffs and other fees will be enacted on Wednesday, potentially surpassing the extent of the 1930 Smoot-Hawley tariffs, a historical example of the risks of protectionism. Ford's shares decreased by 1.1% following a 1.3% drop in its first-quarter U.S. sales, whereas General Motors saw a 0.6% rise due to a 17% increase in sales. Nvidia's stock increased by 0.4%, despite its first-quarter results showing a 19.3% decline—the steepest since 2022—amidst challenges facing technology stocks and concerns over tariffs. Johnson & Johnson experienced a 5.7% decline in their stock value after a judge dismissed their most recent bankruptcy filing aimed at settling talc-related lawsuits. Economic data revealed that the manufacturing sector contracted once more in March, with price pressures rising to the highest levels since 2022, while job openings fell to 7.57 million, below expectations.