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. stock indexes more than 1% lower as the Nasdaq Composite fell 251.46 points to 22,634.61.
- On Tuesday, the U.S. Supreme Court ruled 6-3 that the president overstepped tariff authority, prompting a threat of a 15% temporary tariff amid Middle East tensions.
- With only 77 companies left to report, analysts described the market's reaction as 'sell first, assess later', amid ongoing earnings season and AI concerns.
- Gold climbed as money flowed to safe havens while airlines and travel/leisure stocks tumbled, financials sector lagged, and consumer staples sector gained.
- With earnings season nearly over, analysts note 73% of companies have beaten expectations and now expect 13.9% year-on-year S&P 500 earnings growth, up from an 8.9% forecast on January 1.
37 Articles
37 Articles
US Stocks | Wall Street ends sharply lower amid AI displacement fears and revived tariff angst
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 and Trump's erratic statements on trade policy, which fueled much of the market volatility during the first year of the president's second term.
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...
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