Highlights
Stocks ended narrowly mixed Wednesday on a split day for technology shares as the market anticipated strong Nvidia earnings after the close. The Dow Jones industrial average lost 0.4 percent, the S&P 500 was flat and the Nasdaq firmed 0.3 percent. US bond yields and oil prices declined while the dollar rose against most major currencies.
Market tone remained gloomy as worries about the economy and uncertainty about Trump administration policies weighed on business and market sentiment. In economic news, new home sales came in weaker than expected after similar results for existing home sales on Friday.
President Trump repeated his threat to impose tariffs on all goods from the European Union. He said tariffs against Mexico and Canada would be delayed until April 2 but a White House official subsequently said the date to impose these tariffs remained March 4. Trump's threats to upend traditional US foreign policy commitments have also unsettled markets. That included his decision Wednesday to decline comment when asked if the US would defend Taiwan against a Chinese attack.
Among sectors, best Wednesday were materials, information technology, industrials and utilities while lagging were consumer staples, energy, real estate and health care.
Market tone remained gloomy as worries about the economy and uncertainty about Trump administration policies weighed on business and market sentiment. In economic news, new home sales came in weaker than expected after similar results for existing home sales on Friday.
President Trump repeated his threat to impose tariffs on all goods from the European Union. He said tariffs against Mexico and Canada would be delayed until April 2 but a White House official subsequently said the date to impose these tariffs remained March 4. Trump's threats to upend traditional US foreign policy commitments have also unsettled markets. That included his decision Wednesday to decline comment when asked if the US would defend Taiwan against a Chinese attack.
Among sectors, best Wednesday were materials, information technology, industrials and utilities while lagging were consumer staples, energy, real estate and health care.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.
