Stocks Drop as Market Faces Economic and Policy Uncertainty
Major U.S. indexes extend losses following tariff concerns and economic growth fears under President Trump's trade policies.
- The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all opened lower, continuing their recent declines after the S&P's worst week since September.
- Investors are reacting to concerns about U.S. economic growth, inflation risks, and uncertainty surrounding President Trump's tariff policies.
- Tech stocks, including Tesla, Nvidia, and Apple, saw significant losses, with Tesla down over 5% and Nvidia falling nearly 3%.
- Bitcoin dropped to $82,600, extending losses after disappointment over Trump's proposed Bitcoin Strategic Reserve plan.
- Redfin shares surged 74% following news of a $1.75 billion acquisition by Rocket Companies, while Rocket's stock fell 11%.