US stocks closed lower on Thursday as investors braced for the upcoming tariff deadline confirmed by US President Donald Trump. The Dow dropped by 330.3 points to 44,130.98, while the S&P 500 and Nasdaq declined by 23.51 and 7.23 points respectively.
Notably, nine of the 11 primary S&P 500 sectors ended in the red, with health and real estate losing 2.79% and 1.73% respectively. Meanwhile, communication services and utilities led the gains by rising 2.08% and 0.59%.
As the day progressed, earlier market gains were trimmed when Trump confirmed that the tariffs will take effect Friday. This announcement came alongside several new trade agreements and a 90-day extension of current tariff rates with Mexico. Such moves have sparked caution among investors as global trade dynamics continue to evolve.
For young investors and market enthusiasts, this scenario is a reminder of how global trade issues can quickly ripple through the financial landscape. Stay tuned for more updates as the story unfolds! 🚀📉
Reference(s):
cgtn.com
