Wall Street ends down slightly; tariff uncertainty keeps investors on edge

Shares of Bank of America and Citigroup rose following their results.
Still, bank executives warned that U.S. consumer spending faces huge risks if the upheaval sparked by President
Among the biggest weights on the Dow was Boeing. The stock fell 2.4% after
Trump's
"Earnings have been pretty good, but this is a market that's just beset by tariff and trade uncertainty and those are really the only catalysts that matter at this point," said
"On a day where you're bereft of those (catalysts), it's kind of a wayward market, and we're seeing that today."
Johnson & Johnson's shares ended down 0.5% after the company missed estimates for sales of medical devices, despite beating
Barclays on Tuesday downgraded the U.S. auto and mobility sector, saying Trump's tariffs could pressure automakers' earnings. Shares of Ford closed down 2.7% while shares of General Motors fell 1.3% and the S&P consumer discretionary index slipped 0.8%.
The Dow Jones Industrial Average fell 155.83 points, or 0.38%, to 40,368.96, the S&P 500 lost 9.34 points, or 0.17%, to 5,396.63 and the Nasdaq Composite lost 8.32 points, or 0.05%, to 16,823.17.
Also in the healthcare space, shares of Merck & Co ended 1% lower.
Bank of America topped estimates for first-quarter profit as interest income grew, and its shares ended up 3.6%.
S&P 500 companies have just begun to report results for the quarter ended
"As far as the results from Q1, those basically occurred in a world that doesn't really exist anymore," Mayfield said. "It's going to be about guidance, and I expect a lot of companies to just kind of punt and rescind their guidance."
Johnson & Johnson's chief executive said that tariffs on pharmaceuticals can create supply-chain disruptions and that favorable tax policies would be a more effective tool to boost U.S. manufacturing capacity of both drugs and medical devices.
Strategists also are paying close attention to their technical charts after the S&P 500's 50-day moving average slipped below the 200-DMA on Monday, producing a "death cross" pattern that suggests a short-term correction could turn in to a longer-term downtrend.
The S&P 500 remains down 12.2% from its
Advancing issues outnumbered decliners by a 1.29-to-1 ratio on the
On the Nasdaq, 2,399 stocks rose and 2,003 fell as advancing issues outnumbered decliners by a 1.2-to-1 ratio.
The S&P 500 posted 2 new 52-week highs and one new low while the Nasdaq Composite recorded 27 new highs and 95 new lows.
Volume on U.S. exchanges was 15 billion shares, compared with the roughly 19 billion average for the full session over the last 20 trading days.
(Reporting by
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