Wall Street major averages closed a volatile session mixed on Tuesday, as investors awaited clarity from President Trump regarding his upcoming tariff policy.
The S&P 500 rose by 0.4%, the Nasdaq 100 gained 0.9%, while the Dow Jones finished marginally in the red. Consumer discretionary stocks, including Tesla and Nike, led the day's gains.
The market remained under pressure from weaker-than-expected economic data, including a disappointing manufacturing survey with price pressures at their highest since 2022 and job openings below forecasts.
The White House confirmed that reciprocal tariffs and other levies will be imposed on Wednesday, a move expected to exceed the scope of the 1930 Smoot-Hawley tariffs, a historic cautionary tale against protectionism.
The potential for a 20% tariff on most imports into the U.S. has raised concerns, with analysts warning that the trade risks may be underappreciated by the market.
Source: Trading Economics
