S&P and Nasdaq are getting closer, Dow closes after the turbulent day in the middle of the trade war
The stock market posted uneven performance on Wednesday in an escalation of the World Trade War and concerns about a possible recession.
After the modest initial gains, the industrial average of Dow Jones closed down 80 points, or 0.2%, while the S& P 500 climbed 0.5%. The Nasdaq, heavy in technology, increased by 1.2%.
The exchanges opened a few minutes after a new inflation report showed that price increases were more than scheduled in February, the first full month under President Donald Trump.
However, tit-for-tat prices continued to shake the world trade early Wednesday.
The 25% prices of Trump on all imported steel and aluminum products entered into force during the night. In response, Canada and the European Union have slapped reprisals on American goods.
Tesla, the electric car manufacturer led by Elon Musk, climbed approximately 7.5% on Wednesday. The gains occurred one day after Trump praised the company alongside Musk during an event in the White House.
The Wall Street panel is hung outside the New York Stock Exchange Building Tuesday after Monday’s wide sale in New York on March 11, 2025.
Shannon Stapleton / Reuters
Some economists say that if American prices could stimulate the local steel industry in the United States, they could also lead to higher prices for industries that buy steel. These higher prices can possibly reach consumers.
The United States is based strongly on imported aluminum and these costs are also expected.
