Updated at 4:40 PM EDT by Rob Lenihan
Stocks finished lower Wednesday, as investors looked for clarity on President Donald Trump’s tariff policies while awaiting key inflation data later in the week.
The Dow Jones Industrial Average tumbled 132.71 points, or 0.31%, to finish the session at 42,454.79, while the S&P 500 fell 1.12% to close at 5,712.20, and the tech-heavy Nasdaq lost 2.04% to close at 17,899.01.
Major tech names such as Nvidia, Tesla, Amazon, Meta Platforms, and Alphabet all ended in the red.
“The economy is probably not in recession at this point, but the uncertainty about Fed policy, interest rates, inflation, and trade wars put a damper on how consumers and businesses feel about current conditions,” said Jeffrey Roach, chief economist for LPL Financial.
“However, tracking the hard data can give us a fuller sense of how society is doing,” he added. “One stat to monitor is unemployment claims, which we expect to rise if we are getting closer to recession.”
Updated at 1:43 PM EDT
Ford Motor F and General Motors (GM) shares moved lower in afternoon trading following confirmation from the White House that President Trump will unveil specific tariffs on the auto sector later this afternoon.
Ford shares were marked 1.9% lower at $10.10 each while GM was last seen 1.86% lower at $51.61 each.
Broader markets were also in decline, with the S&P 500 down 67 points, or 1.16% and the Dow reversing its earlier gain to fall 153 points on the session.
Updated at 11:11 AM EDT
Nvidia shares are moving firmly lower in early trading following a report suggesting the chipmaker’s access to markets in China could be curbed by new environmental regulations.
London’s Financial Times said China’s economic planning director, the NDRC, has created new rules on energy efficiency that could prevent the sale of Nvidia’s H20 chips, which were designed to comply with U.S. export restrictions.
Nvidia shares were last marked 4.4% lower at $115.36 each, dragging the Nasdaq and the S&P 500 into the red.
Updated at 9:36 AM EDT
The S&P 500 was marked 36 points lower, or 0.1%, in the opening minutes of trading, with the Nasdaq down 73 points, or 0.4%.
