US stocks dove Thursday and surrendered a chunk of their historic gains from the day before as President Donald Trump's trade war continues to threaten the economy. The S&P 500 tumbled 3.5%, slicing into Wednesday's surge of 9.5% following Trump's decision to pause many of his tariffs worldwide. The Dow Jones Industrial Average dropped 1,014 points, or 2.5%, and the Nasdaq composite tumbled 4.3%. Trump blinks, UBS strategist Bhanu Baweja wrote in a report about the president's decision on tariffs, but the damage isn't all undone. Trump has focused more on China, raising tariffs on its products to well above 100%. Even if that were to get negotiated down to something like 50%, and even if only 10% tariffs remained on other countries, Baweja said the hit to the US economy could still be large enough to hurt expected growth for upcoming US corporate profits. The losses for US stocks accelerated Thursday after the White House clarified that the United States will tax Chinese imports
US stocks are giving back much of their historic gains from the day before as Wall Street weighs a trade war that has cooled in temperature but is still threatening the economy. The S&P 500 fell 5 per cent Thursday. The Dow Jones Industrial Average dropped 1,746 points, and the Nasdaq composite sank 5.8 per cent. Even a better-than-expected report on inflation wasn't enough to get US stocks to climb further. Losses for stocks accelerated after the White House clarified that Chinese imports will be tariffed at 145 per cent, not the 125 per cent rate that US President Donald Trump had earlier written about.
The Dow Jones Industrial Average fell 611.5 points, or 1.51 per cent, at the open to 39,996.93
The Dow Jones Industrial Average was down 170 points, or 0.5 per cent, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.5 per cent higher
GIFT Nifty hinted at a gap-up start. As of 6:48 AM, GIFT Nifty futures were up 378 points at 22,642, compared to the previous Nifty futures close of 22,263.
Wall Street is sinking again, following other global markets lower, as worries deepen about whether President Donald Trump's trade war will torpedo the global economy. The S and P 500 was down 3.8 per cent in early trading Monday, coming off its worst week since COVID began crashing the global economy in March 2020. The Dow Jones Industrial Average was down 1,200 points, and the Nasdaq composite was 4 per cent lower. Stocks in Hong Kong plunged 13.2 per cent for their worst day since 1997. A barrel of benchmark US crude oil briefly dropped below $60 for the first time since 2021.
In the previous session, Sensex gained 592.93 points (0.78 per cent) to close at 76,617.44, while Nifty50 rose 166.65 points (0.72 per cent) to settle at 23,332.35
Amid a sharp market downturn, companies are holding back on listings, leaving the mainboard without a single initial public offering (IPO) so far this month
FIIs net sold shares worth Rs 485.41 crore, while DIIs net bought shares worth Rs 263.51 crore, on March 10
In the past two decades, the Sensex has traded at nearly a 25 per cent premium to the Dow valuation on average
Stock Market Today: As of 6:33 AM, GIFT Nifty Futures were down 75 points at 22,545, hinting at a negative start.
In the previous session, equity markets logged their biggest single-day gain in a month, aiding Nifty50 to end its record 10-day losing streak. The Nifty settled at 22,337.30, up 254.65 pts or 1.15%
Stock Markets Today: As of 6:31 AM, GIFT Nifty Futures were down 54 points at 22,137, hinting at a negative start.
In the previous session, the Sensex jumped 631.55 points, or 0.83 per cent, to settle at 76,532.96. The Nifty50 also added 205.85 points, or 0.90 per cent, to close at 23,163.10
Stock Market LIVE on Thursday, January 23, 2025: At 7:17 AM, GIFT Nifty futures were trading 63 points lower at 23,136, indicating a lower start for the bourses
At 6:35 AM, GIFT Nifty futures indicated a gap-up opening for the markets, trading 150 points higher at 23,416
At 6:32 AM, GIFT Nifty futures indicate a gap-down opening for the markets, trading 160 points lower at 23,341
In the previous session, the Sensex ended at 78,141.06, registering a decline of 58 points or 0.07 per cent, while the Nifty50 closed at 23,688.95, down 19 points or 0.08 per cent
Early signs indicate a positive opening for the markets. At 6:37 AM, GIFT Nifty futures were trading 51 points higher at 23,772, pointing to a higher start for the bourses
Dow Jones: The Dow Jones Industrial Average slid 1,123.03 points, or 2.58 per cent, to 42,326.87 on Wednesday - declining for a 10th day and clocking its longest losing streak since 1974