FX.co ★ US Stocks Slip as Trump Tariff Threats Weigh on Markets

On Friday, U.S. stocks experienced a decline after reaching record highs the previous day. This downturn occurred in response to President Trump's decision to intensify trade conflicts with the implementation of a 35% tariff on Canadian imports, alongside proposals for further tariff increases up to 20% concerning other trading partners. Consequently, the S&P 500 saw a decrease of 0.3%, the Dow Jones Industrial Average fell by 250 points, or 0.6%, and the Nasdaq 100 dropped by 0.2%. This decline marked the end of a strong trend fueled by investor optimism. Trump's correspondence with Canada heightened anxieties by suggesting additional measures if retaliatory action ensued, while he also indicated imminent similar actions that could affect the EU. The majority of sectors faced losses, with the health and financial sectors bearing the brunt, whereas the energy and consumer discretionary sectors saw gains. Among the megacap stocks, performances varied: Apple declined by 0.6%, Meta by 1.4%, and Broadcom by 0.8%, while Alphabet gained 1.5%. Meanwhile, Microsoft, Tesla, Nvidia, and Amazon recorded increases of 0.4%, 0.1%, 1%, and 1.4%, respectively. Looking at the weekly performance, the S&P 500 and Nasdaq reduced by 0.5% and 0.2%, respectively, and the Dow decreased by 1.1%.