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Time of India
07-05-2025
- Business
- Time of India
US stocks nosedive after Fed keeps rates unchanged amid tariff uncertainty
US stock indexes saw a sharp decline after the Federal Reserve kept rates steady. Alphabet's shares significantly impacted Nasdaq. The Fed cited risks to inflation and unemployment goals. Traders anticipate a rate cut by July. Market awaits policy clues amidst trade tensions. Disney's stock rose, boosting the Dow. Trade discussions between the US and China are expected. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads U.S. stock indexes fell sharply following the Federal Reserve 's decision to hold rates steady, even as a steep decline in shares of Google-parent Alphabet weighed heavily on the Dow Jones was up 64.77 points or 0.16% to 40,893.77, down about 300 points from day's high, while the S&P 500 fell 20.73 points or 0.37% to 5,586.11, down about 30 points from peak, and the Nasdaq declined 155.13 points or 0.88% to 17,534.53, down over 100 points from the US Federal Reserve on Wednesday announced another rate cut pause and warned of higher risks to its inflation and unemployment goals in a likely reference to President Donald Trump's tariffsPolicymakers voted unanimously to hold the US central bank's key lending rate at between 4.25 percent and 4.50 percent, the Fed said in a are now roughly pricing in a rate cut by July, according to data compiled by LSEG, after a mixed-bag of earnings last week signaled a slowing U.S. economy and resilient labor from policymakers will be scrutinized for clues on how they plan to approach monetary policy easing this year, given the backdrop of President Donald Trump's criticism of the central bank and an uncertain trade environment."At the moment, the U.S. labor market is still strong and healthy... the Fed really has a lot of reasons to indicate that they are not likely to cut rates in the near term," said Nicholas Brooks, head of economic and investment research at ICG.A 6.4% fall in Alphabet's shares dragged on the tech-heavy Nasdaq, while the communication services sector weighed on the benchmark S&P 500.A report said iPhone-maker Apple was exploring the option of adding artificial-intelligence search options to its web browser, citing an executive. Apple's shares were trading at nearly two-week the flip side, a 10.5% jump in Walt Disney's stock after the streaming firm's quarterly results topped Street expectations boosted the three main indexes were higher in early morning trading, a day after Washington announced that representatives of the two countries would meet over the weekend in Switzerland for ice-breaker trade discussions following weeks of tit-for-tat tariffs between the United States and Trump administration has said potential deals with major trading partners are underway, but the markets are yet to see tangible results on that front."What markets really want to see is tariffs removed as quickly as possible on both sides... the longer this disruption and uncertainty continues, the more economic damage we'll see," Brooks said. Wall Street ended lower for the second straight session on Tuesday, but all three indexes have recouped declines logged since Trump's announcement of "Liberation Day" reciprocal tariffs on April dropped 2.2% as the ride-hailing company missed quarterly revenue expectations. CrowdStrike dropped 3.8%. The cybersecurity company reiterated its fiscal 2025 and 2026 forecasts and announced a plan to cut research firm Charles River Laboratories shot up 14.7% after it said it had reached an agreement with activist investor Elliott Investment Management and raised its 2025 earnings Networks fell 7% after its quarterly issues outnumbered decliners by a 1.92-to-1 ratio on the NYSE, and by a 1.24-to-1 ratio on the S&P 500 posted 11 new 52-week highs and eight new lows, while the Nasdaq Composite recorded 40 new highs and 66 new lows.
Economic Times
22-04-2025
- Business
- Economic Times
Wall Street ends sharply lower following Trump's anti-Powell tirade
Volume on U.S. exchanges was 13.89 billion shares, compared with the 18.87 billion average for the full session over the last 20 trading days. All three major indexes tumbled more than 2%, with big losses in the "Magnificent Seven" group of megacap growth stocks weighing heaviest on the tech-laden Nasdaq. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NEW YORK: U.S. stocks suffered steep losses on Monday as U.S. President Donald Trump ramped up his attacks on Federal Reserve Chair Jerome Powell, prompting investors to worry about the central bank's independence even as they grapple with the effects of Trump's ongoing, erratic trade three major indexes tumbled more than 2%, with big losses in the "Magnificent Seven" group of megacap growth stocks weighing heaviest on the tech-laden S&P 500 closed 16% below its February 19 record closing high. If the bellwether index closes 20% below that all-time high, that will confirm the index has entered a bear escalated his criticism of Powell on Monday, saying the U.S. economy is headed for a slowdown "unless Mr. Too Late, a major loser, lowers interest rates NOW," in a bellicose Truth Social post which raised concerns over the Fed's autonomy."Countries that have an independent central bank grow faster, have lower inflation; they have better economic outcomes for their people," said Jed Ellerbroek, portfolio manager at Argent Capital Management in St. Louis. "And politicians trying to influence the Fed is a really bad idea, and it's very scary for the market."The Sino-U.S. trade rift deepened after Beijing warned other countries against striking deals with the United States at China's expense, adding fuel to the spiraling tariff war between the world's two largest economies."Companies are ... not sure how to respond, waiting for final answers from the United States about tariff rates," Ellerbroek added. "What makes it dispiriting, I think, is the fact that this is like self-inflicted; we're in this situation by choice, by this administration's choice."The Dow Jones Industrial Average fell 971.82 points, or 2.48%, to 38,170.41, the S&P 500 lost 124.50 points, or 2.36%, to 5,158.20 and the Nasdaq Composite lost 415.55 points, or 2.55%, to 15, 11 major sectors in the S&P 500 ended in negative territory, with consumer discretionary and tech suffering the biggest percentage earnings season shifts into higher gear this week with dozens of closely watched firms due to report. So far, of the 59 companies that have reported, 68% have beaten Wall Street expectations, according to LSEG of Thursday, analysts expect aggregate first-quarter S&P 500 earnings growth of 8.1%, year-on-year, down from the 12.2% growth projected at the beginning of the quarter, per earnings on the docket this week include Magnificent Seven members Tesla and Alphabet, and a host of high-profile industrials including Boeing, Northrop Grumman, Lockheed Martin and 3M. Artificial intelligence heavyweight Nvidia dropped 4.5% after Reuters reported that Huawei Technologies planned to begin mass shipments of an advanced AI chip to customers in China as early as next dropped 5.8% after Reuters reported that the production launch of its stripped-down version of the Model Y was gained 2.4% after a brokerage issues outnumbered advancers by a 4.76-to-1 ratio on the NYSE. There were 77 new highs and 180 new lows on the the Nasdaq, 1,205 stocks rose and 3,174 fell as declining issues outnumbered advancers by a 2.63-to-1 S&P 500 posted one new 52-week high and nine new lows while the Nasdaq Composite recorded 28 new highs and 184 new on U.S. exchanges was 13.89 billion shares, compared with the 18.87 billion average for the full session over the last 20 trading days.
