by Stephen Culp

NEW YORK (Reuters)-The New York Stock Exchange ended up sharply decreases Thursday, the S&P-500 being in the correction zone, while reassuring data on inflation have been overshadowed by fears about the multiplication of customs duties between the United States and their main business partners, which cause the threat of an economic slowdown or even a recession.

The Dow Jones index sold 1.30%, or 537.36 points, to 40,813.57 points.

The wider S&P-500 lost 77.78 points, or 1.39%, at 5,521.52 points.

The Nasdaq Composite fell on its side of 345.44 points (1.96%) to 17,303.01 points.

While the three main Wall Street indices have declined, the S & P-500 finished 10.1% of its closing record of February 19, confirming that it was in the correction zone.

The NASDAQ recorded a decline of almost 2% on Thursday under the effect of the losses of technological values ​​and titles associated with the sector.

Stressing that “new advertisements on customs duties are daily”, Mike Dickson, research director at Horizon Investments, in Charlotte, said that the “feeling is horrible” on the markets.

“We see it even more in some of the sensitive sectors, such as ‘seven magnificent’,” he added. “It’s really not great right now.”

The Dow Jones transport index, considered one of the health barometers of the American economy, recorded a drop of 18.9% compared to its closing record of November 25.

Chuck Carlson, Managing Director of Horizon Investment Services, in Indiana, highlighted the important level “of uncertainty about the economy”.

“Part of this uncertainty stems from customs duties, but not only, and this suggests to investors that it is possible that landing (of the economy) is not soft, in the end,” he added.

The day gave rise to a new episode of commercial wars launched by American president Donald Trump. The European Union has announced 50% customs duties on American whiskey imports in response to the taxation of steel and aluminum exported to the United States. The head of the White House immediately threatened with an escalation with 200% customs duties on certain European alcohols.

Data published by the US Department of Labor, which show a greater slowdown than expected production prices, have registered in the line of a report on consumer prices, confirming that inflation is heading in the right direction by retreating towards the 2% objective of the Federal Reserve (Fed).

The markets also keep an eye on debates at the US Congress on a temporary financing bill intended to avoid a partial “Shutdown” of federal administrations.

Almost all the major sectors of the S & P-500 have finished the session in the red. Communication services have recorded one of the strongest drops of the day.

On the values ​​side, Intel jumped 14.6% after appointing a new director general in the Lip-Bu Tan, experienced leader in the semiconductor sector. Adobe dropped 13.9% following a forecast of quarterly results in accordance with expectations.

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(Written by Jean Terzian)

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