The S&P 500 Index ($SPX) (SPY) today is down -2.50%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -2.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -2.75%. June E-mini S&P futures (ESM25) are down -2.24%, and June E-mini Nasdaq futures (NQM25) are down -2.64%.
Stock indexes today are trading lower, giving back some of Wednesday's sharp rally. Despite President Trump's action on Wednesday to announce a 90-day pause on reciprocal tariffs to 56 countries, the markets are still concerned about the effects of US trade policies on the global economy as many tariffs remain in place. The tariffs have caused consumer confidence to plummet and have prompted many companies to suspend their capital spending plans, a negative factor for GDP growth. Also, the US trade war with China has escalated, adding to economic uncertainty. After China retaliated Wednesday and imposed 84% tariffs on US goods, the US raised tariffs on Chinese goods to 125% from 104%.
