Stocks Fall on Tariff Anxiety as Earnings Roll In
Wall Street’s mood soured on Tuesday as stocks fell after some industry heavyweights pulled their earnings outlooks for 2025, underscoring Corporate America’s low visibility around the impacts of President Donald Trump’s trade war.
Equities halted a five-day advance as General Motors Co. and JetBlue Airways Corp. refrained from issuing their forecasts. United Parcel Service Inc. — an economic barometer — expects to cut 20,000 jobs this year and close dozens of facilities. Amazon.com Inc.’s decision to display tariff impact on pricing is a “hostile” and political act, the White House said.
The US merchandise-trade deficit unexpectedly widened in March to a record as companies continued importing goods to get ahead of tariffs, indicating a large hit to the economy in the first quarter.
“We’re wary of more data weakness in the near-term and are therefore biased for lower yields as investor angst regarding the growth profile increases,” said Ian Lyngen at BMO Capital Markets.
The S&P 500 fell 0.3% as of 9:30 a.m. New York time
The Nasdaq 100 fell 0.5%
The Dow Jones Industrial Average was little changed
Source : Bloomberg
