ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
U.S. stocks closed lower Thursday as investors reacted to President Donald Trump’s surprise announcement of new auto tariffs, which sent shares of major automakers and parts suppliers tumbling. The S&P 500 slipped 0.33% to 5,693.31, while the Nasdaq lost 0.53% and the Dow Jones fell 0.37%.
Trump’s plan includes a 25% tariff on imported cars and light trucks starting April 3, with auto parts tariffs following on May 3. The move triggered a sharp sell-off in automakers, with General Motors (NYSE:GM) plunging over 7% and Ford (NYSE:F) dropping 3.9%. Car parts suppliers Aptiv (NYSE:APTV) and BorgWarner (NYSE:BWA) fell around 5% each.
Tesla (NASDAQ:TSLA) gained 0.4% as its domestic production may shield it from the worst of the tariff impact. Apple (NASDAQ:AAPL) rose 1.05%, helping to offset broader losses.
Uncertainty around Trump’s shifting trade policies continues to weigh on investor sentiment. “People are cautious not just because of the policies but because of the constant flip-flopping,” said portfolio manager Jed Ellerbroek of Argent Capital.
Eight of the 11 S&P 500 sectors closed in the red, led by energy and communication services. Despite a dip in weekly jobless claims and a Q4 GDP revision up to 2.4%, markets remained under pressure.
Dollar Tree (NASDAQ:DLTR) jumped 11% after announcing the sale of its Family Dollar unit for $1 billion, earning bullish analyst upgrades.
Investors are now turning to Friday’s release of the February PCE price index, the Fed’s preferred inflation gauge, for further clues on monetary policy. So far in 2025, the S&P 500 is down 3%, while the Nasdaq has slid nearly 8%, both poised to end Q1 in the red.
