S&P 500 (NYSEARCA: SPY) Live: Markets Hunt Bottom After Trade War Reignited
Live Updates Live Coverage Updates appear automatically as they are published. Fed Uncertainty 10:22 am by Gerelyn Terzo Chicago Fed President Austan Goolsbee warned Friday that President Donald Trump’s latest tariff moves have entangled policy decisions and likely pushed back any interest rate changes, stating on CNBC: “Everything’s always on the table. But I feel […] The post S&P 500 (NYSEARCA: SPY) Live: Markets Hunt Bottom After Trade War Reignited appeared first on 24/7 Wall St..
Live Updates
Fed Uncertainty
Chicago Fed President Austan Goolsbee warned Friday that President Donald Trump’s latest tariff moves have entangled policy decisions and likely pushed back any interest rate changes, stating on CNBC: “Everything’s always on the table. But I feel like the bar for me is a little higher for action in any direction while we’re waiting to get some clarity.”
This article will be updated throughout the day, so check back often for more daily updates.
The markets are deepening their losses this Friday morning, with all three major stock market averages down by at least 1% right out of the gate. As the week draws to a close, investors are bracing for a negative finish after President Trump’s threat to impose a steep 50% tariff on the EU, potentially taking effect in the coming days. The SPY ETF is down 0.85% as of mid-morning trading. The S&P 500 is on pace for a 2.7% decline this week.
The Dow Jones Industrial Average is reeling by over 400 points, while the tech-heavy Nasdaq Composite and S&P 500 are each shedding approximately 1% today. Most economic sectors are trading lower, with consumer discretionary and technology stocks seeing the steepest declines. Treasury yields are falling as the trade war reignites, capping off a roller coaster week for the bond market. Volatility has also returned to the stock market, clearly evidenced by a 25% surge in the CBOE Volatility Index (VIX).
Additionally, Apple (Nasdaq: AAPL) finds itself in the crosshairs, with President Trump also cautioning that iPhones manufactured outside the U.S. could face heavy tariffs, pushing Apple stock down 2% today. In a positive note for the Magnificent Seven, popular Wedbush analyst Dan Ives is bullish on Tesla (Nasdaq: TSLA), having just lifted his price target on the EV maker to $500, indicating a whopping 49% upside potential, accompanied by an “outperform” rating.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 327.46 (-0.78%)
Nasdaq Composite: Down 231.88 (-1.2%)
S&P 500: Down 56.14 (-0.96%)
Market Movers
Nuclear stocks are defying the downward trend today, gaining ground as the Trump administration signals regulatory tailwinds for this energy segment. Companies including Oklo (NYSE: OKLO), NuScale (NYSE: SMR), and Constellation Energy (Nasdaq: CEG) are all advancing, led by a double-digit percentage gain for OKLO.
Quantum Computing stock IonQ (NYSE: IONQ) fell as much as 4.7% today but is off its session lows following yesterday’s rally that saw its share price close above $45.
Intuit (NYSE: INTU) is gaining 8.6% today after reporting its quarterly earnings results.
Deckers (NYSE: DECK) is falling 21.7% after reporting earnings and being downgraded on Wall Street.
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