US Stocks Fall on Tariff, Inflation Jitters
The three US indices closed lower on Thursday, as gains in Microsoft and Meta failed to lift the broader market amid renewed trade uncertainties and economic concerns.
The S&P 500 fell 0.5%, marking its third consecutive loss, while the Nasdaq 100 slipped 0.4%. The Dow dropped 330 points, dragged down by losses in healthcare stocks. Market sentiment was dented by President Trump’s decision to extend a 25% tariff on Mexican imports and looming deadlines for broader trade actions.
The Fed’s preferred inflation gauge, the core PCE, rose 0.3% in June and 2.8% from a year earlier, adding to uncertainty over a potential rate cut in September. On the earnings front, Meta surged 11.2% after beating estimates and issuing a strong sales outlook, while Microsoft gained 3.9%, pushing its market cap above $4 trillion on solid Azure growth.
Investors now look ahead to earnings from Apple and Amazon, along with Friday’s jobs report, for further insight into the economic outlook.
Source : Trading Economics
