U.S. Stocks Wobble Amid New Trump Tariffs and Tech Sell-Off
On Friday, U.S. stocks showed a tentative recovery as investors weighed the impact of new global tariffs announced by President Donald Trump against rising oil prices and AI-related concerns. The Dow Jones Industrial Average rose slightly while the S&P 500 remained flat near the opening bell. In contrast, the Nasdaq Composite dipped due to pressure from megacap tech stocks like Alphabet (GOOG) and Tesla (TSLA), which had lost nearly $800 billion in market value on Thursday after a sharp sell-off driven by concerns over rising AI costs. The new Section 301 tariffs, effective Friday, impose rates of up to 12.5% on major U.S. trading partners but exempt certain energy products amid ongoing inflation worries and higher oil prices. Despite falling oil prices in the short term, Brent crude was set for a weekly gain after reaching $100 per barrel earlier in the week. Corporate earnings showed mixed results: Intel (INTC) rose on strong post-market performance while Verizon Communications (VZ), American Express (AXP), and NextEra Energy (NEE) reported earnings beats but missed revenue estimates, with stock reactions varying accordingly.
Tickers: $AXP $INTC $NEE $TSLA $VZ
Topics: AI spending Dow Jones Nasdaq Composite oil prices S&P 500 tariffs