Wall street dips as auto tariffs weigh on stocks, economic data offers some relief

The US stock market experienced mixed movements on Thursday as President Donald Trump’s latest tariff declaration on imported cars weighed the automakers, while positive Economic data Provided some support for the market.
S&P500 showed a little movement in the morning, which recovered from the earlier dip. According to the news agency AP, at 10 o’clock at the eastern time, Dow Jones Industrial Average was less than 33 points or 0.1%, and Nasdaq Composite was also 0.1%less.
General Motors Trump led the loss due to a 5.9% decrease after disclosing 25% tariffs on imported vehicles. Ford Motor Following the suit, left 2.1%. Even American vehicle manufacturers felt the impact of tariffs due to their widespread supply chains in North America. President Trump has emphasized the desire for auto production within the US to reduce dependence on imports.
Joseph Spack, an ABS analyst, said, “There are still many unknown, but if these tariffs live in place, companies will definitely face challenges.”
Complaining on cases, the US government faces the challenge to determine how to implement tariffs in parts made under the North American Free Trade Agreement, but it could prove to be difficult to track such parts in the US, Spack said.
Vehicle manufacturers outside the US were also killed. Honda Motor fell 2.5%in Tokyo, while Toyota Motor fell 2%, and Hyundai Motor fell 4.3%in Seoul.
Electric vehicle manufacturers such as Tesla and Rivian performed better. Both the more produced companies in the US are less affected by the new tariffs. Tesla rose 2.7%, and Rivians increased by 3.1%.
Uncertainty about the impact of Trump’s upcoming “Liberation Day” tariff is increasing, set up for April 2, when he is planning to present a mutual tariff on the business partners of America, many people can reduce global economic pain, which can reduce global economic pain. However, the continuous talk of tariff has already expressed concern, making both American consumer and business more alert.
Despite tariff concerns, recent economic reports have been more encouraging. A new report showed that less workers applied for unemployment benefits compared to expectation, indicating a strong job market. Additionally, a second report indicated that US economic growth initially thought in the last quarter of 2024.
These positive economic reports helped to keep the treasury yield stable, with a yield on a 10 -year treasury bonds the previous day increased from 4.35% to 4.36%.
In individual shares, Petco Health and Wellness saw a major advantage of 33.4%, after reporting the better-and-use results for its most recent quarter.
Foreign, European stock index collapsed after a decline in shares of automakers. Japan’s Nikkei 225 fell 0.6%, while Prime Minister Shigeru Ishiba called for tariff exemption on Japan. In contrast, the stock in China increased slightly, with 0.1% in Shanghai and Hong Kong 0.4%.
Chinese vehicle manufacturers are internationally expanded, but have not yet created significant differences in the US market, so the impact of tariffs on them will be indirect.