The S&P 500 Index ($SPX) (SPY) today is down -0.24%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.18%. March E-mini S&P futures (ESH25) are down -0.24%, and March E-mini Nasdaq futures (NQH25) are down -0.16%.
Stocks are under pressure today due to concerns about President-elect Trump’s tariff plans. CNN reported that Trump is considering declaring a national economic emergency to push through his tariff plans. Also, higher bond yields are weighing on stocks as the 10-year T-note yield climbed to an 8-1/2 month high. Stocks remained lower on mixed US labor market news that showed the Dec ADP employment change rose less than expected, but weekly initial unemployment claims unexpectedly fell to a 10-1/2 month low.
