US EditionWall Street Ends Sharply Lower Amid AI Displacement Fears and Revived Tariff Angst
Wall Street indexes dropped over 1% amid AI disruption fears and tariff uncertainty after a Supreme Court ruling, while gold prices rose as investors sought safe assets.
- On Monday, Wall Street stocks tumbled, sending all three major U.S. indexes more than 1% lower by the close as the S&P 500 lost 70.31 points and the Dow Jones Industrial Average fell 810.81 points.
- A Friday U.S. Supreme Court ruling found Trump overstepped tariff authority, reviving uncertainty including a threatened 15% temporary tariff, said Tom Hainlin.
- Financials underperformed while consumer staples posted the largest percentage gain, and Domino's Pizza, PayPal, and Eli Lilly surged on strong sales, takeover interest, and trial results.
- Investors sought safe havens, lifting gold as risk assets were sold off, while market commentators described a quick headline-driven selloff with a 'sell first, assess later' mentality.
- With 77 companies left to report, fourth-quarter earnings season is nearing its end as 73% beat expectations and analysts expect 8.9% earnings growth.
16 Articles
16 Articles
The New York Stock Exchange closed lower on tariff uncertainty and AI fears. All three major stock indices closed lower, driven by fatigue over the Trump administration's tariff policies and fears about artificial intelligence (AI). At 10 a.m. Eastern Standard Time on the 23rd, the Dow Jones Industrial Average closed lower than the previous day...
US STOCKS-Wall Street ends sharply lower amid AI displacement fears and revived tariff angst
Wall Street stocks tumbled on Monday, as ongoing fears of artificial intelligence-related disruption and the fallout from Friday's U.S. Supreme Court ruling sent investors fleeing from high risk equities A broad selloff sent all three major U.S. stock indexes more than 1% lower by the closing bell, as risk appetite was dampened by a combination of persistent fears over potential disruption due to emergent artificial intelligence technology an…
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