The S&P 500 Index ($SPX) (SPY) Friday closed down -0.50%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.75%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.14%. March E-mini S&P futures (ESH25) are down by -0.53%, and March E-mini Nasdaq futures (NQH25) are down by -0.20%.
Stocks on Friday gave up an early rally and settled moderately lower. Long liquidation in stocks emerged Friday afternoon when the White House denied a Reuters report that President Trump would delay tariffs against Canada and Mexico until March 1. The White House said Friday afternoon that President Trump plans to move ahead with plans on Saturday to impose 25% tariffs on Mexico and Canada and a 10% tariff on China. Also, a jump in T-note yields Friday undercut chip stocks and weighed on the broader stock market.
