Market Volatility Sees S&P 500 Recover Losses Amid Trade Uncertainty

 


The S&P 500 trimmed losses in a volatile Friday session, as investors digested a weaker-than-expected employment report and escalating trade tensions. President Donald Trump reportedly indicated he might impose reciprocal tariffs on Canada as early as today.

  • Market Performance (1:52 p.m. ET / 18:52 GMT):
    • Dow Jones Industrial Average: Up 143 points, or 0.2%
    • S&P 500 Index: Up 0.3%
    • NASDAQ Composite: Up 0.2%

Despite the midday recovery, major Wall Street indices remain on track for weekly losses. Investor anxiety persists, fueled by concerns that the White House's fluctuating tariff policies will negatively impact consumer spending and create instability for business planning.

Trump's Reciprocal Tariff Threat Against Canada

  • President Trump reportedly stated on Monday that reciprocal tariffs on Canadian goods could be implemented as soon as Monday, according to Bloomberg. This potential action moves the timeline significantly ahead of the previously announced April 2 deadline.
  • This announcement adds another layer of uncertainty to the trade landscape and its potential economic consequences, following a week of rapid tariff adjustments.
  • On Thursday, Trump announced a temporary exemption for goods imported from Canada and Mexico under the United States-Mexico-Canada Agreement (USMCA), delaying the imposition of a 25% tariff until April 2.
  • In response to the U.S. tariff announcements, Canada postponed its planned second wave of retaliatory tariffs on $125 billion worth of U.S. products, also until April 2.

Powell Signals Extended Pause on Interest Rates

  • Federal Reserve Chairman Jerome Powell indicated on Friday that the central bank intends to maintain a patient approach to interest rate adjustments.
  • He emphasized that while the economy remains fundamentally sound, the prevailing uncertainty warrants a cautious stance.

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