(Bloomberg) — Stocks fell as President Donald Trump’s latest tariff threats stoked concern about a trade war.
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The S&P 500 slid from a record. Homebuilders tumbled.
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Trump said he’d likely impose tariffs on cars, chips and drug imports of about 25%, with an announcement as soon as April 2.
“The tariff noise continues,” said Win Thin at Brown Brothers Harriman & Co., noting that’s keeping the Fed even more cautious.
The Federal Reserve minutes due Wednesday will possibly show no rush to cut rates.
The S&P 500 fell 0.3%. The Nasdaq 100 lost 0.3%. The Dow Jones Industrial Average slid 0.4%.
Toll Brothers Inc. led losses in builders, which were also hit by weak housing starts data. Intel Corp. slid after a 16% surge.
The yield on 10-year Treasuries was little changed at 4.55%. The Bloomberg Dollar Spot Index fluctuated.
Corporate Highlights:
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Nikola Corp. filed for bankruptcy, culminating a long slide for the onetime darling of the electric-vehicle industry, which struggled with weak sales and cycled through CEOs in the wake of a fraud scandal.
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E-commerce company Etsy Inc. reported fourth-quarter results that missed expectations and gave an outlook that points to ongoing struggles.
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Chemical firm Celanese Corp. said it sees “persistently weak global demand” in end markets including paint and coatings.
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Online-dating company Bumble Inc. gave a first-quarter forecast that was weaker than expected on key metrics.
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Elliott Investment Management is seeking seats on the board of oil refiner Phillips 66 as it pushes the company to sell or spin off its pipeline business.
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Roper Technologies Inc. is exploring a sale of its Neptune Technology Group division, according to people with knowledge of the matter.
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Glencore Plc said it’s studying whether to move its primary listing away from London, potentially becoming the latest major miner to leave what has for decades been the industry’s global hub.
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AngloGold Ashanti Ltd. posted a $1 billion profit last year as record bullion prices helped the miner rebound from a loss in 2023.
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Prada SpA is working with advisers to evaluate the Versace brand as it weighs a bid for the Italian fashion company owned by Capri Holdings Ltd.
