Tariffs Tug-of-War: Mixed Outcomes for US and Global Stocks
US stocks experienced mixed results as President Trump's tariffs took effect, sparking fears of economic damage while hopes for interest rate cuts and strong corporate profits provided balance. Concerns linger over trade policies' impact and the valuation of stocks after recent surges. Consequently, companies like Crocs and Eli Lilly faced stock declines.
On Thursday, US stocks concluded with mixed outcomes as President Trump's imposed tariffs came into effect across numerous countries, with markets absorbing the impact.
The S&P 500 slid 0.1% off its morning high, while the Dow decreased by 224 points or 0.5%. Meanwhile, Nasdaq hit a record, climbing 0.3%.
Fears over Trump's tariffs harming the economy were counteracted by expectations of Federal Reserve interest rate cuts and strong profit reports, providing some market support amidst stock overvaluation concerns.
(With inputs from agencies.)
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