US stocks opened lower on Thursday as uncertainty surrounding President Donald Trump’s tariffs continued to weigh on investors. Despite a nearly one-month tariff delay on products from Mexico and Canada covered by the USMCA, all three major indexes closed lower.
The Dow fell 428 points, or 0.99%, while the S&P 500 slid 1.78% and the Nasdaq Composite dropped 2.61%. The market is now on track for its worst week since March 2023, with the Dow down almost 3% on the week.
Investor sentiment remains fragile due to persistent uncertainty around tariffs. Since Trump took office, the Nasdaq has fallen more than 7%, and the S&P 500 is down over 4%. Rob Haworth, a senior investment strategist at US Bank Wealth Management, warned that the uncertainty would eventually weigh too much on business decisions.
New economic data revealed a surge in job cuts, with US-based employers announcing plans to slash 172,017 jobs last month. This has raised concerns about spending on artificial intelligence and the labor market.
The Nasdaq fell further after companies posted mixed earnings results and guidance for this year. Chinese tech giant Alibaba announced an AI model that challenged upstart DeepSeek and OpenAI, sparking questions about the value of investing in AI.
The US dollar index fell to its lowest level since November, signaling a weakening outlook for US economic growth. Investors are awaiting the government’s monthly jobs report on Friday, which will provide insight into how the economy is doing.
Source: https://edition.cnn.com/2025/03/06/investing/us-stocks-tariff-uncertainty/index.html