The S&P 500 fell 0.5%
US stocks closed lower Friday after Tariffs decision
Stocks surrendered early gains and closed lower after the White House said President Donald Trump would impose promised tariffs on some key U.S. trading partners.
The S&P 500 fell 0.5% and the Nasdaq composite dropped 0.3%. Each showed solid gains in morning trading. The Dow Jones Industrial Average dropped 0.8%. Trump will put in place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective Saturday.
Apple reversed course from market-leading gains to post a loss of 0.7%. Shares of Nvidia, considered the poster child for the AI frenzy, fell 3.7% to close out a rough week for chipmakers.
The S&P 500 fell 30.64 points, or 0.5%, to 6,040.53.
The Dow Jones Industrial Average fell 337.47 points, or 0.8%, to 44,544.66.
The Nasdaq composite fell 54.31 points, or 0.3%, to 19,627.44.
The Russell 2000 index of smaller companies fell 19.76 points, or 0.9%, to 2,287.69.
