Wall Street experienced a moderate downturn by the close of trading, swinging from slight gains to reaching as much as 10% lower than its peak. This volatility was a direct response to the recent intensification of President Donald Trump’s ongoing trade conflict.
The S&P 500 recorded a decline of 0.8% by Tuesday, even after marking a dip of up to 1.5% earlier. Furthermore, the Dow Jones Industrial Average witnessed a decrease of 478 points or 1.1%. In comparison, the Nasdaq composite saw a smaller decline of 0.2%. However, positive performances by Tesla and several other key stocks helped cushion the overall losses.
This turbulence followed Trump’s declaration to double the tariffs on steel and aluminum imports from Canada. In response, the provincial government of Ontario decided to withdraw its proposed electricity surcharges to the U.S.
On Tuesday, market specifics were as follows:
The S&P 500 dropped by 42.49 points, equivalent to a 0.8% decline, landing at 5,572.07.
The Dow Jones Industrial Average decreased by 478.23 points, or 1.1%, to settle at 41,433.48.
The Nasdaq composite experienced a reduction of 32.23 points, indicating a 0.2% fall, ending at 17,436.10.
In contrast, the Russell 2000 index, which tracks smaller companies, saw an increase of 4.53 points, or 0.2%, reaching 2,023.59.
Examining the performance over the week:
The S&P 500 is down by 198.13 points, or 3.4%.
The Dow has reduced by 1,368.24 points, accounting for a 3.2% decline.
The Nasdaq is behind by 760.13 points, which translates to a 4.2% decrease.
The Russell 2000 has dipped by 51.89 points, reflecting a 2.5% drop.
Looking at the year-to-date performance:
The S&P 500 has fallen by 309.56 points, a 5.3% dip.
The Dow is down by 1,110.74 points, or 2.6%.
The Nasdaq has plunged 1,874.70 points, marking a 9.7% drop.
The Russell 2000 has shrunk by 206.56 points, or a 9.3% decline overall.
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