Major indexes pulled back, brushing off yesterday's brief reprieve from trade war fears. The Dow dropped nearly 1,015 points, a stark contrast to yesterday's historic surge. On Wednesday, Trump implemented a 90-day pause to reciprocal tariffs with the exception of China, where the total levy against all goods now stands at 145%. Big Tech is leading losses for the benchmarks, including names Apple (AAPL) and Meta Platforms (META).
Continue reading for more on today's market, including:
- Options traders are falling in LOVE.
- Retail sales and big bank earnings on deck.
- Plus, a slipping tech leader; sales buzz boosts COST; and 2 volatile fintechs.
5 Things to Know Today
- Biden-appointed Bridget Brink is leaving her post as U.S. Ambassador to Ukraine, following a three-year stint in the position. (Bloomberg)
- Trump's latest budget plan has been passed through the House of Representatives. (Reuters)
- Tech leader slides further from Wednesday's pop.
- Sales buzz boosts Costco Wholesale stock.
- Two struggling fintech stocks today.
Gold Futures Tap 3-Year High
Crude prices pulled back with the broader market for today's session. May-dated West Texas Intermediate (WTI) crude shed $2.28, or 3.66%, to close at $60.07 per barrel.
A falling U.S. dollar combined with intensifying trade fears sent investors toward the precious metal. June-dated gold was last seen 3.3% higher at $3,179.4 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
