The S&P 500 Index ($SPX) (SPY) today is down -0.19%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.31%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.23%. March E-mini S&P futures (ESH25) are down -0.20%, and March E-mini Nasdaq futures (NQH25) are down -0.23%.
Stocks were undercut today after President Trump said last night that he will likely impose tariffs of around 25% on US auto, semiconductor, and pharmaceutical imports by April 2. Mr. Trump said the tariffs would be delayed until April 2 to give companies time to move production into the US so they would not be affected by the new import tariffs. These new tariffs would add to the previously announced 25% tariffs on steel and aluminum that take effect in March, and “reciprocal tariffs” on a country-by-country basis that will be calculated and take effect by April 1. Mr. Trump has also announced a 10% import tariff on US imports from China, and 25% tariffs on Canada and Mexico although those have been deferred until at least March 4.
