Wall Street ends lower as ruling on Trump tariffs raises concerns
Tue September 2, 2025 6:55 PM
It was not a good day. If there’s one thing the market doesn’t like it’s uncertainty and this weekend’s appeals court ruling striking down most of Trump’s tariffs have introduced a whole new layer of uncertainty into the equation. Questions abound – will this ruling stand and trigger another big correction or be overturned by a higher court in which case we’re back where we started? Does the ruling mean that Trump has alienated our trading partners? All this caused massive disruption, with the Dow down 600 points at open, and bouncing around all day to close at a 249 point loss, with the other indexes following an almost identical pattern.
With baited breath, everyone is waiting for Friday’s payrolls report to see whether we’re heading into a fourth month of weak job growth. That aside, the odds of a September rate cut are still very strong, today standing at 92%. The good news, if you want to call it that, is that August and September have for decades on average been the worst months of the year so this is likely not the beginning of a correction at all but just the usual September pattern. Investors are braced for the usual bumpy ride going into Q4 which luckily is usually solid. Post-holiday volume was brisk, for a change actually a tad above the 4-week 16.26 average, today coming in at 16.41 billion shares traded.
DJ: 45,544.88 -92.02 NAS: 21,455.55
-249.61 S&P: 6,460.26
-41.60 8/29
DJ: 45,295.81 -249.07 NAS: 21,279.63
-175.92 S&P: 6,415.54
-44.72 9/2
No comments:
Post a Comment