US STOCKS-Wall Street ends down slightly; tariff uncertainty keeps investors on edge
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Uncertainty over the outlook for tariffs still high
(Recasts with preliminary close of trading)
By
Quarterly results from companies including
Still, bank executives warned that U.S. consumer spending
faces huge risks if the upheaval sparked by President
Trump announced sweeping tariffs on
"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."
Trump has hinted at potential exemptions for the 25% tariffs
imposed on imports of autos and auto parts, while
Barclays on Tuesday downgraded the U.S. autos and mobility sector, saying that Trump's tariffs could pressure automakers' earnings. Shares of Ford closed lower.
According to preliminary data, the S&P 500 lost 9.38 points, or 0.17%, to end at 5,396.59 points, while the Nasdaq Composite lost 10.30 points, or 0.06%, to 16,821.18. The Dow Jones Industrial Average fell 155.21 points, or 0.38%, to 40,369.58.
Also in the healthcare space, shares of
Earnings for the first quarter period have just begun. Changes in U.S. trade policy are muddying the outlook for companies, and strategists expect executives to be reluctant to give earnings guidance.
Technical analysts are paying closer attention to their
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 into a longer-term
downtrend.
(Reporting by
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