Wall St closes lower as Trump sets 25% tariffs, manufacturing data dips

Wall St closes lower as Trump sets 25% tariffs, manufacturing data dips

By Johann M Cherian, Sukriti Gupta and Chibuike Oguh

Mon March 3, 2025 4:15 PM

All three indexes were more or less sputtering along the break-even line in the morning, probably sitting on the sidelines waiting for the next event to unfold. Then at 12:30 p.m. all hell broke loose and all three indexes fell right through the flow with major enormous 3-digit losses. It was likely at 12:30 that Trump made the announcement that the 25% tariffs on Mexico and Canada would take effect tomorrow.  

That sent investors reeling and not at all helped by the ISM showing a modest contraction in manufacturing with an even sharper decline in forward-looking new orders, this drop also mirroring all the data showing a drop in consumer sentiment and the likelihood of less consumer spending, which has been holding up the economy all this time, will continue to decrease. Per the CBOE, trading was very brisk at 17.2 billion shares traded. 

DJ: 43,840.91  +601.41       NAS: 18,847.28  +302.86      S&P: 5,954.50  +92.93         2/28

DJ: 43,191.24  -649.67        NAS: 18,350.19  -497.09       S&P: 5,849.72  -104.78        3/3

Mon 3-3-25 4:15 pm Wall St closes lower as Trump sets 25% tariffs, manufacturing data dips | Reuters