By chuck mikolajczak

NEW YORK (Reuters) – The New York Stock Exchange ended up on Tuesday, confirming recent gloom in the markets, while investors are concerned about the potential impact for the global economy of new customs duties announced by US President Donald Trump.

The Dow Jones index sold 1.14%, or 478.23 points, to 41,433.48 points.

The wider S & P-500 lost 42.49 points, or 0.76%, at 5,572.07 points.

The Nasdaq Composite fell on its side of 32.23 points (0.18%) to 17,436.10 points

The session was volatile, the main clues of Wall Street having a rebounded time with the announcement of advances between the United States and Ukraine in the discussions with a view to a peace agreement with Russia.

The fact remains that the S & P-500 fell in session to more than 10% of its closing record on February 19.

Donald Trump announced that he was going to double customs duties having to enter into force on Canadian steel and aluminum imports, to bring them to 50%.

This has fueled investors’ concerns about Washington’s trade policy, with surcharge on products imported from China and customs duties against Canada and Mexico. Against the backdrop of fears of an economic slowdown or even a recession, the S & P-500 had recorded its strongest decline on a day on Monday since December 18. He lost more than 3.4% in two sessions, unheard of since last August. “There is anxiety and nervousness on the market, so we see hastily reactions,” commented Ken Polcari, chief market strategist of Slatestone Wealth, in Florida.

Wall Street experienced a touch of appeasement in the afternoon with the announcement that the United States would restore its aid to Ukraine and that representatives of the two countries gathered in Saudi Arabia had agreed with the principle of a 30-day truce in war with Russia.

Another reason for respite, the suspension by the Prime Minister of the Canadian province of Ontario of the additional cost announced by 25% on electricity exports in three American states in response to the taxes announced by Donald Trump against Canada.

This was not enough to register the main clues in the green while, according to Chris Fasciano, chief strategist of Commonwealth Fincial Network in Massachusetts, “the market has been waiting for hope for about a week”. “It is difficult to make changes without knowing what will really happen,” he added. Global markets are shaken by Donald Trump’s repeated commercial announcements and repeated trading in the United States major business partners.

A report on consumer prices in the United States, scheduled for Wednesday, will give elements on inflation, while recent data suggest a slowdown in the economy.

All the major sectors of the S&P-500 have finished the downward session.

On the values ​​side, Kohl’s tumbled by 24.1% after saying to anticipate a larger withdrawal than expected of its annual sales. Delta Air Lines declined 7.3% following a clear revision of the drop in its profit for the current quarter. Oracle lost 3.1% after disappointing quarterly results.

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(Written by Jean Terzian)

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