Stocks in the US were lower on Wednesday, with the S&P 500 falling 0.9%, the Nasdaq tumbling 1.4% and the Dow Jones falling more than 240 points. Investors remained on edge ahead of President Trump's upcoming tariff announcement. Reports suggested he is considering a universal 20% tariff on most imports, though uncertainty persists regarding the scale and scope of the levies.
The White House has stated that the tariffs would take immediate effect but noted that Trump remains open to further negotiations. Meanwhile, the ADP report showed a surprise 155K gain in private sector employment in March, well above forecasts of 105K. Consumer discretionary and tech were the worst performing sectors.
Megacap stocks were lower, including Apple (-0.5%), Microsoft (-0.5%), Nvidia (-1.8%), Amazon (-1.1%), Meta (-0.7%) and Alphabet (-0.4%). Also, shares of Tesla sank more than 4% as the company reported a 13% annual decline in vehicle deliveries in Q1 2025.
Source: Trading Economics
