The stock market turned lower after the latest tariff headlines overshadowed strong earnings reports.
The Dow was down 323 points, or 0.7%, in the wake of the tariff comments. The S&P 500 was down 0.2%. The Nasdaq Composite was still up 0.2%.
The Dow fell suddenly on Friday after White House press secretary Karoline Leavitt denied a Reuters report that suggested tariffs on Mexico and Canada could be pushed back to March 1.
Leavitt reiterated a Saturday deadline for the tariffs.
“The president will be implementing tomorrow 25% tariffs on Mexico, 25% tariffs on Canada, and a 10% tariff on China for the illegal fentanyl that they have sourced and allowed to distribute into our country, which has killed tens of millions of Americans,” she said.
Leavitt did not offer updates on whether there would be exemptions for oil or other imports, but noted they will be made publicly available in the next 24 hours.
