Stock market today: Dow falls, Nasdaq pops as Trump's latest tariff moves spark volatile trading

Published On Mar 11, 2025, 2:40 PM

Recent market moves have been driven by President Trump's announcement of increased tariffs on Canadian steel and aluminum, now set to 50% in response to Canada's own tariff on U.S. electricity. This has led to a further decline in U.S. stocks, with concerns of a recession looming as economic forecasts for 2025 are being downgraded. Major indices, including the S&P 500 and Dow, have seen sharp declines, particularly influenced by the 'Magnificent Seven' tech stocks. Labor data is steady, but upcoming inflation reports add to market uncertainty. Airlines are facing significant pressures, especially Delta and United, due to lower travel demand expectations. Meanwhile, Tesla’s stock has started to recover following support from Trump, but overall sentiment on Wall Street remains cautious with many analysts downgrading U.S. equities in favor of international stocks.