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Tue, Mar 4, 2025, 6:32 AM 1 min read
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US stocks slid connected Tuesday arsenic investors weighed Canada and China's effect to President Donald Trump's delivery of caller tariffs amid nerves implicit the imaginable of a deepening commercialized war.
The Dow Jones Industrial Average (^DJI) fell astir 1%, portion the benchmark S&P 500 (^GSPC) dropped 0.8%. The tech-heavy Nasdaq Composite (^IXIC) shed astir 0.9%, arsenic each 3 indexes took a limb little to widen their caller sell-off.
Rising fears of a full-on commercialized warfare drove Monday's sell-off aft the president said determination was "no country left" for Canada oregon Mexico to onslaught a woody to mitigate promised tariffs.
Stocks are retreating arsenic markets measure the apt interaction of Trump's broad tariffs connected America’s apical trading partners. The measures — caller 25% tariffs connected Canada and Mexico, and a doubling successful China duties to 20% — were signed into effect astatine midnight ET connected Tuesday.
SNP - Free Realtime Quote USD
As of 9:50:41 AM EST. Market Open.
^GSPC ^DJI ^IXIC
Canada deed backmost with a sweeping bundle of contiguous tariffs connected US imports, portion China retaliated with further 15% duties connected US workplace products specified arsenic chickenhearted and pork, to travel connected March 10. Many saw Beijing's effect arsenic little assertive than feared, leaving country for dialog with Trump.
Target (TGT) warned that tariffs volition enactment pressure connected archetypal 4th nett arsenic it delivered an net bushed earlier the bell. The retail giant's banal was small changed successful aboriginal trading. Meanwhile, its assemblage adjacent Best Buy (BBY) put retired a muted yearly income forecast alongside its ain quarterly beat. The further motion of user caution helped nonstop its shares lower.
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US stocks descent astatine the open
US stocks descent astatine the open
US stocks continued their sell-off connected Tuesday arsenic caller tariffs connected Canada, Mexico, and China officially went into effect astatine midnight.
The Dow Jones Industrial Average (^DJI) fell astir 0.7%, portion the benchmark S&P 500 (^GSPC) dropped 0.8%. The tech-heavy Nasdaq Composite (^IXIC) shed astir 0.9%, arsenic each 3 indexes took a limb lower.
DJI - Free Realtime Quote USD
As of 9:50:41 AM EST. Market Open.
^DJI ^IXIC ^GSPC
Treasury Secretary Bessent shrugs disconnected tariff sell-off, says Wall Street isn’t the focus
US Treasury Secretary Scott Bessent argued that a marketplace sell-off successful effect to caller tariffs would beryllium temporary, Bloomberg reports, though helium acknowledged determination whitethorn beryllium a modulation play arsenic caller duties connected Canada, Mexico, and China instrumentality effect.
The Treasury Secretary's comments travel aft stocks plummeted Monday successful effect to the tariffs. On Tuesday morning, futures for Dow Jones Industrial Average futures (YM=F) fell 0.3%, portion S&P 500 futures (ES=F) dropped 0.8%. Contracts connected the tech-heavy Nasdaq 100 (NQ=F) shed astir 1%.
CME - Delayed Quote USD
As of 9:40:42 AM EST. Market Open.
ES=F NQ=F YM=F
Bloomberg reports:
US output curve gets steeper arsenic tariffs enactment maturation astatine risk
The hazard to planetary maturation from Trump's tariffs is rattling enslaved investors, who look progressively convinced that the president is nary longer conscionable making threats arsenic a precursor to a deal.
Traders besides ramped up bets connected the Federal Reserve making much interest-rate cuts than antecedently expected.
Bloomberg reports:
Okta banal jumps connected 'blowout quarter'
Shares of Okta jumped successful premarket trading Tuesday aft the individuality and cybersecurity institution reported coagulated sales, earnings, and 2025 nett guidance.
All 3 metrics bushed Wall Street analysts' estimates arsenic the institution benefitted from accrued firm spending connected cybersecurity extortion amid the AI boom.
Okta banal roseate 14% Tuesday greeting and was a trending ticker connected Yahoo Finance.
"This is simply a blowout quarter," Okta co-founder and CEO Todd McKinnon told Yahoo Finance's Brian Sozzi successful an Opening Bid podcast exclusive. "It's reflective of large deals successful the quarter," McKinnon said, pointing to a 25% surge successful subscription backlog to much than $4 billion.
Ignore the Target net beat
Target's (TGT) earnings conscionable deed the wires.
And portion the net bushed volition rapidly drawback your eyes, it's much important to fastener successful connected this enactment from the merchandise fixed each the hazard astir tariffs:
"In airy of ongoing user uncertainty and a tiny diminution successful February nett sales, combined with tariff uncertainty and the expected timing of definite costs wrong the fiscal year, the institution expects to spot meaningful year-over-year nett unit successful its archetypal 4th comparative to the remainder of the year," Target said.
Target declined to stock circumstantial archetypal 4th net guidance. Yahoo Finance information shows Wall Street analysts were looking for a flimsy archetypal 4th year-on-year net improvement.
Good morning. Here's what's happening today.
Xi leaves doorway unfastened for talks with Trump
China's tit-for-tat determination to Trump was to slap tariffs of up to 15% connected US workplace goods specified arsenic pork and beef, starting adjacent week. That's going down mostly good connected Wall Street, which sees the targeted enactment arsenic designed to debar escalating a commercialized warfare betwixt the world's apical 2 economies.
Bloomberg reports:
President Donald Trump's tariffs instrumentality effect
US President Donald Trump's program for wide-ranging tariffs against Canada and Mexico has occurred with nary further delays.
Yahoo Finance's Ben Werschkul reports:
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