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The S&P 500 hovered near the flatline on Tuesday as the market awaited clarity from President Donald Trump regarding his tariff policy rollout. Wall Street also faced pressure stemming from weaker-than-expected economic data.
The Dow Jones Industrials faded 203.67 points to 41,798.09
The broader index dropped 10.14 points to 5,601.71.
The NASDAQ regained 11.05 points to 17,314,33
Investors got another sour reading on the economy Tuesday due to the threat of tariffs, with the Institute for Supply Management manufacturing survey coming in lighter than expected and in contraction territory. February’s job openings were also slightly below estimates, the Bureau of Labor Statistics said on Tuesday.
On Tuesday, The Washington Post reported that the Trump administration is considering implementing tariffs of about 20% to most imports into the U.S. To be sure, the report — which cited three sources familiar with the matter — noted that no final decision had been made.
The uncertainty has put stocks on a rollercoaster ride. The S&P 500 on Monday touched a six-month low before recovering. For the first quarter, the index lost 4.6%, while the NASDAQ Composite dropped 10%. That marked the worst quarterly performance for both benchmarks since 2022. The Dow dropped 1.3% during the first three months of the year.
Prices for the 10-year Treasury rocketed, lowering yields to 4.15% from Monday’s 4.22%. Treasury prices and yields move in opposite directions.
Oil prices crawled up eight cents to $71.56 U.S. a barrel.
Prices for gold advanced $8.50 to $3,158.90 U.S.