Stocks drop, dollar weakens as latest Trump tariff news weighed
Thu March 6, 2025 3:54 PM
On Wednesday, Trump announced that he was considering a one-month pause on the tariffs with Canada and Mexico and the stock market zoomed on just this little hint, any little hint, that the trade war may be easing. And today Trump did it, announced the one-month. But today it had the opposite effect. Today the market decided that, pause or no pause, there was just too much uncertainty here. As today’s expert put it, “Trump has been very confusing about these tariffs. One day they’re on and the next day they’re off for a month.”
“He did warn us there was going to be some pain initially, and the market doesn’t like pain.” And the market absolutely hates uncertainty. There was another massive 3-digit drop across all the indexes. The Nasdaq has now officially entered correction territory passing the 10% benchmark having lost 10.4% since its December 16th high. The S&P dropped briefly below its 200-day moving average, an indication that further declines are likely coming. The VIX is up to 24.87, its highest since December 18th. Volume came in at 16.13 billion, in line with the 4-week average of 16.08 billion.
DJ: 43,006.59 +485.60 NAS: 18,552.73
+267.57 S&P: 5,842.63
+64.48 3/5
DJ: 42,579.08 -427.51 NAS: 18,069.26
-483.48 S&P: 5,738.52
-104.11 3/6
Thu 3-6-25 3:54 pm Stocks drop, dollar weakens as latest Trump tariff news weighed | Reuters
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