Wall Street ends lower as White House says Trump to implement tariffs
Investors have been bracing for further tariff news after Trump has repeatedly warned about using the measure. Uncertainty over the impact of tariffs has muddled the outlook for the economy and inflation.
«I would have thought the market would be down more,» said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey. «It's not just the announcement itself, which I think probably impacts a select number of industries. It's whatever retaliation moves are taken.»
Stocks turned lower on Friday afternoon after the White House said the tariffs against Canada, Mexico and China would take effect on Saturday.
Friday capped a heavy week of quarterly results from U.S. companies as well. Apple shares ended down 0.7%. They were higher early in the session after the company gave upbeat executive comments in its earnings on Thursday, in a sign it expects to recover from a dip in iPhone sales as it rolls out artificial intelligence features.
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