Stock market today: Dow sinks 700 points, S&P 500 nears correction as Trump escalates trade war with Canada

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  Airline stocks plummet connected request concerns

  Delta (DAL) shares extended declines connected Tuesday, falling different 9% aft the institution chopped its outlook for the existent quarter. The airliner cited a dip successful user and firm assurance and softening home request amid "macro uncertainty."

  Earlier connected Tuesday, United Airlines (UAL) besides slashed its forecast, saying it likewise expects question request weakness amid a caller slowdown successful US user spending.

  The developments travel arsenic Trump doubles down connected his commercialized warfare with Mexico and Canada and escalates his tariff combat against China. Compared to the different US-based airliners, United has the highest vulnerability to China.

  “While we proceed to stay constructive connected the proviso backdrop — which we inactive judge is favorable — our attraction has shifted to what appears to beryllium an emerging economical ‘soft patch,’” Deutsche Bank strategists wrote successful a enactment Tuesday. "To what grade and duration are not wide astatine the present, however, we bash deliberation it volition apt measurement connected request for aerial travel, peculiarly the home discretionary segment.”

  Meanwhile, Southwest Airlines (LUV) said Tuesday it would extremity its longstanding escaped checked container policy.

  “We person tremendous accidental to conscionable existent and aboriginal lawsuit needs, pull caller lawsuit segments we don’t vie for today, and instrumentality to the levels of profitability that some we and our shareholders expect,” Southwest Airlines CEO Bob Jordan said successful a property release.

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  The tech sell-off is not conscionable hitting the 'Magnificent 7'

  It's not conscionable the "Magnificent Seven" stocks feeling the interaction of caller sell-off action.

  Highfliers similar Netflix (NFLX), AMD (AMD), Micron (MU), Dell (DELL), and Palantir (PLTR), among others, person besides been washed retired successful the midst of this latest marketplace rout.

  Netflix banal has declined implicit 10% from a period ago, and immoderate connected Wall Street are informing that its caller volatility signals a much sinister representation of the existent banal market.

  "When NFLX goes down implicit 9% successful 1 day, that tells maine we are starting to spot immoderate panic," Mizuho expert Jordan Klein wrote successful a enactment to clients connected Friday.

  Klein added that though immoderate analysts person precocious called retired Netflix's dense contented walk and imaginable engagement headwinds, the institution inactive has "zero tariff risk, pricing powerfulness and astir feels recession-proof."

  Therefore, a important one-day driblet successful the banal "tells you that folks conscionable privation to trim each vulnerability to equities close now," helium said.

  Other non-Mag 7 players person underscored this sentiment since a period ago. AMD and Micron are down astir 13% and 6%, respectively. Shares of Palantir, a erstwhile momentum play connected Wall Street, person plunged 30%. And Dell banal has tumbled astir 20% implicit the aforesaid clip period.

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  Citi latest steadfast to downgrade US stocks to Neutral

  More Wall Street strategists are souring connected US stocks connected the heels of caller sell-off action.

  On Tuesday, Citigroup strategists downgraded their presumption connected US stocks to Neutral from Overweight, citing bearish signals specified arsenic expected antagonistic US information prints and uncertainty implicit tariffs and authorities occupation cuts.

  "We had not afloat implemented our presumption that US exceptionalism is astatine slightest pausing, but this has present go clearer," Citi said. The radical besides upgraded China stocks to Overweight but near equities wide Neutral.

  "In the large picture, US equity outperformance whitethorn good instrumentality erstwhile the AI communicative takes implicit again, but successful the coming months, we expect US maturation momentum to undershoot the [rest of the world]."

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  Citi is not the lone steadfast that downgraded US equities successful favour of much planetary trades. For different Wall Street watchers, European stocks person besides been connected a caller blistery streak.

  "Prior to the US elections, we assumed that a Trump triumph would reenforce US exceptionalism," HSBC planetary equity strategist Alastair Pinder wrote connected Monday.

  "Today, we are upgrading Europe (ex-UK) to overweight (from underweight) and downgrading the US to neutral."

  Read much connected the sentiment displacement distant from US markets here.

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  Trump boosts Canadian steel, aluminum tariffs to 50%

  President Donald Trump connected Tuesday said he's boosting Canadian alloy and aluminum tariffs to 50%, with the caller duties acceptable to spell into effect connected Wednesday.

  In a station connected Truth Social, the president said the summation is successful effect to Ontario Premier Doug Ford's determination to enforce a 25% surcharge connected energy exports to the United States.

  "Based connected Ontario, Canada, placing a 25% Tariff connected 'Electricity' coming into the United States, I person instructed my Secretary of Commerce to adhd an ADDITIONAL 25% Tariff, to 50%, connected each STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD," Trump wrote.

  Stocks erased earlier gains pursuing Trump's post, with the Nasdaq falling from league highs to commercialized conscionable astir the flatline.

  The Dow fell astir 1% portion the S&P 500 dropped astir 0.4%.

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  In summation to these tariffs, Trump besides threatened to "substantially increase" tariffs connected cars coming into the US from Canada, adding these tariffs, "will, essentially, permanently unopen down the automobile manufacturing concern successful Canada. Those cars tin easy beryllium made successful the USA!"

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  US occupation openings inch higher successful January

  Labor marketplace information released Tuesday was mostly successful enactment with Wall Street's expectations arsenic investors ticker intimately for immoderate further signs of cracks forming successful the US economy.

  New information from the Bureau of Labor Statistics released Tuesday showed determination were 7.74 cardinal jobs unfastened astatine the extremity of January, an summation from the 7.51 cardinal seen successful December.

  The December fig was revised little than the 7.6 cardinal unfastened jobs initially reported, mamarking the largest sequential driblet seen crossed the information successful implicit a year. Economists surveyed by Bloomberg had expected Tuesday's study to amusement 7.6 cardinal openings successful January.

  The Job Openings and Labor Turnover Survey (JOLTS) besides showed 5.39 cardinal hires were made during the month, up somewhat from the 5.37 cardinal made during December. The hiring complaint held level astatine 3.4%.

  Tuesday's study besides showed the quits rate, a motion of assurance among workers, roseate to 2.1% up from the 1.9% seen the 2 months prior.

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  US stocks widen sell-off

  US stocks opened little connected Tuesday, extending the anterior session's brutal sell-off arsenic fears escalated implicit the wellness of the US economy.

  The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) each fell astir 0.2%, losing clasp of tiny gains earlier successful premarket trading. The tech-heavy Nasdaq Composite (^IXIC) dropped astir 0.1% aft logging its worst regular nonaccomplishment since 2022.

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• Kohl's banal sinks successful aftermath of gloomy outlook

  Kohl's (KSS) enactment retired a downbeat 2025 outlook this morning, driving a 16% tumble successful shares earlier the bell.

  The section store forecast nett beneath Wall Street estimates, and it present sees a deeper driblet successful income than expected.

  Kohl's present sees net per stock of betwixt $0.10-$0.60, versus the $1.23 anticipated. Comparable income are expected to autumn 4% to 6%, compared with the 0.9% expected.

  The gloomy presumption is conscionable the latest motion that retailers are nether unit arsenic American shoppers acrophobic astir ostentation and a commercialized warfare take to walk carefully.

• Tesla banal rises, heads for rebound from heavy sell-off

  Tesla's (TSLA) banal is gearing up for a comeback — again.

  The EV maker's shares roseate implicit 2% successful premarket trading, having fallen a whopping 15% to pb broader banal losses successful Monday's washout. One imaginable explanation? President Trump's committedness to "buy a marque caller Tesla" arsenic a amusement of enactment for CEO Elon Musk.

  But arsenic Yahoo Finance's Hamza Shaban notes, Tesla's banal has shaken disconnected unit many, galore times before. He reports:

  Read much successful Morning Brief here.

• European stocks are the hottest commercialized connected Wall Street arsenic investors crook distant from US 'exceptionalism'

  Yahoo Finance's Ines Ferré reports:

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  Read much here.

• Airline stocks stumble aft Delta cuts outlook, citing 'macro uncertainty'

  Airline stocks sank successful premarket trading Tuesday aft Delta Air Lines (DAL) chopped its outlook for the existent quarter, citing softening home request amid "macro uncertainty."

  Delta banal fell 7%, portion United Airlines declined 4.5%, and American Airlines (AAL) dropped 3% arsenic concerns swirled astir a user slowdown.

  In a merchandise connected Monday, Delta revised its gross maturation to 3%-4% for the archetypal quarter, down from 7%-9% antecedently forecast, Yahoo Finance's Josh Schafer reported. Profits are besides expected to instrumentality a hit, with net per stock expected to beryllium successful a scope of $0.30-$0.50 successful the archetypal quarter, down from $0.70-$1.00 previously.

  Then, connected Tuesday, American forecast a bigger archetypal 4th loss, arsenic tariff pressures and authorities spending uncertainty weighed connected the outlook for question demand.

  Southwest (LUV) besides chopped its gross maturation forecast, though shares roseate aft the fund bearer announced it would statesman charging for immoderate checked bags successful an effort to boost earnings. The argumentation displacement hinted astatine the increasing power of activistic capitalist Elliott Management astatine the institution arsenic it pushes to revamp Southwest's concern model.

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  Something to watch: DOGE ripples

  An aboriginal inclination to telephone retired arsenic we get acceptable for net play successful a fewer weeks: the DOGE interaction connected firm America.

  Southwest (LUV) mentioned "less authorities travel" successful its income informing today. Delta (DAL) CEO Ed Bastian somewhat hinted astatine an interaction successful a TV interrogation pursuing its ain income informing precocious connected Monday.

  HPE (HPE) CEO Antonio Neri tells maine helium is monitoring the imaginable interaction of DOGE — which for his institution would travel successful the signifier of less server orders.

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  Good morning. Here's what's happening today.

• Wall Street's 2025 forecasts are falling isolated for 1 elemental reason

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  Yahoo Finance's Josh Schafer reports:

  Read much here.

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  Gold rebounds arsenic investors measurement US outlook, tariff concerns

  Gold (GC=F) roseate past $2,900 an ounce arsenic Wall Street's sell-off eased, though capitalist concerns implicit the US system persisted.

  Bloomberg News reports:

  Read much here

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  In the 2nd Trump administration, the Vice President talks to the banal market

  President Donald Trump has taken a antithetic attack to the banal marketplace during his 2nd word successful office.

  Namely: helium appears to person outsourced the responsibility.

  And aft a crisp sell-off crossed the banal marketplace connected Monday saw post-election gains crossed the large indexes and respective cardinal tech stocks that person powered the marketplace wiped out, it was not the president, but alternatively the vice president that appeared to bash the talking to investors.

  In a station connected X, the societal media level owned by Elon Musk, a cardinal subordinate of Trump's administration, Vice President JD Vance said companies that physique successful the US volition beryllium rewarded; for companies gathering extracurricular the US, "you're connected your own."

  Last week, the president said, "I'm not adjacent looking astatine the market" arsenic the rollout of his tariff argumentation shook capitalist confidence.

  Unlike his archetypal word successful office, Trump has besides not spoken explicitly astir the Federal Reserve and his presumption connected policy. (Last clip around, Trump repeatedly called for little rates.)

  Instead, Treasury Secretary Scott Bessent has repeatedly expressed a presumption that Treasury yields should beryllium little amid Trump's propulsion to cleanable up the national fund and rein successful spending crossed the government.

  Given the velocity and extent of the market's sell-off since hitting grounds highs connected Feb. 19, however, we'll spot however agelong the president tin clasp this caller line.