Wall Street ends down sharply on tariff worries; Nvidia and Tesla drop
Wed March 26, 2025 4:37 PM
Detroit got bad news today. The market didn’t have to wait until April 2nd for a hoped-for allay of tariff fears. They got it with both barrels today with Trump’s announcement of 25% tariffs on all foreign-made autos and auto parts. Since most even domestic autos are made with at least some (and often many) foreign made parts, the entire U.S. auto industry will be impacted which sent all three indexes straight down from the open and staying that way all day, closing again with 3-digit losses.
All the auto companies took big hits to their share prices as well as chipmakers Nvidia and Broadcom. As might be expected, a new survey showed a decline in optimism among business executives while everyone scrambled to beef up inventories, putting factories on overtime. All eyes remain on Friday’s PCE report. Volume remains below the average of 16.2 billion, coming in at 15.5 billion.
DJ: 42,587.50 +4.18 NAS: 18,271.86
+83.26 S&P: 5,776.65
+9.08 3/25
DJ: 42,454.79 -132.71 NAS: 17,899.02
-372.84 S&P: 5,712.20
-64.45 3/26
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