Trade Turbulence and Tech Surge: Wall Street's Complex Dance
Wall Street saw mixed results as GM shares plummeted due to tariff impacts, whereas Tesla and Alphabet experienced gains. Investors are wary of President Trump's trade policies, with impending deadlines contributing to uncertainty. S&P 500 saw minor changes, propelled by optimism in tech stocks fueled by AI investments.
On Tuesday, Wall Street illustrated a mixed performance with significant fluctuations in major automakers and tech companies. General Motors suffered a 7% dip following a tariff-induced $1 billion quarterly loss, signaling investor anxiety over President Trump's global trade policies. Ford Motor also saw a minor decline.
Conversely, Tesla shares rose by 1.2% ahead of its quarterly results. There was a moderate increase for Alphabet, which also reports soon. The S&P 500 hit a record high bolstered by high investment in artificial intelligence. Meanwhile, Big Tech shares like Meta and Microsoft slightly dropped, as did Lockheed Martin after an 80% quarterly profit fall.
U.S. trade policies remain uncertain, with key deadlines looming. Treasury Secretary Scott Bessent intends to meet with his Chinese counterpart for potential deadline extensions, yet broader negotiations show little promise. Overall, the S&P 500 showed minor positive movement, buoyed by gains in healthcare and real estate sectors.
(With inputs from agencies.)
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