Wall Street edged lower after getting pulled in opposite directions as President Donald Trump’s latest tariff escalation creates winners and losers among auto stocks.
The S&P 500 slipped 0.3% Thursday after drifting between small gains and losses. Better-than-expected data on the economy also helped support the market.
The Dow Jones Industrial Average dipped 155 points, and the Nasdaq composite fell 0.5%.
General Motors sank sharply after Trump announced 25% tariffs on imported cars. Foreign automakers likewise fell, but Rivian and Tesla held up better. So did companies that could benefit from U.S. drivers opting against buying new cars.
On Thursday:
The S&P 500 fell 18.89 points, or 0.3%, to 5,693.31.
The Dow Jones Industrial Average fell 155.09 points, or 0.4%, to 42,299.70.
The Nasdaq composite fell 94.98 points, or 0.5%, to 17,804.03.
The Russell 2000 index of smaller companies fell 8.14 points, or 0.4%, to 2,065.70.
For the week:
The S&P 500 is up 25.75 points, or 0.5%.
The Dow is up 314.35 points, or 0.7%.
The Nasdaq is up 19.98 points, or 0.1%.
The Russell 2000 is up 8.71 points, or 0.4%.
For the year:
The S&P 500 is down 188.32 points, or 3.2%.
The Dow is down 244.52 points, or 0.6%.
The Nasdaq is down 1,506.76 points, or 7.8%.
The Russell 2000 is down 164.46 points, or 7.4%.
Before you consider General Motors, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Motors wasn't on the list.
While General Motors currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the top 7 AI stocks to invest in right now. This exclusive report highlights the companies leading the AI revolution and shaping the future of technology in 2025.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.