Dow ends 650 points lower as Trump says Mexico, Canada tariffs ‘all set’ to hit
Stocks finished sharply lower after President Donald...
Stocks finished sharply lower after President Donald Trump said that Mexico and Canada wouldn't avoid 25% tariffs on imports due to go into effect on Tuesday.
Stocks saw a positive start to the week and month quickly erode Monday morning after a weaker-than-expected reading from the closely followed ISM manufacturing index. Details of the reading showed a large rise in prices paid and a slump in new orders, underscoring fears that tariff fears were having an effect on activity.
Stocks then accelerated the drop, with the Dow down more than 900 points at its session low, after Trump affirmed the tariff plans.
At the closing bell, the Dow Jones finished down 649 points, or 1.5%
The S&P 500 finished with a loss of 1.8%, leaving the large-cap benchmark down 0.5% for the year to date.
The tech-heavy Nasdaq Composite slumped 2.6%, with Nvidia Corp. dropping 8.8% on the day.
Chord Energy is moving to expand its 4-mile lateral drilling...
Chord Energy is moving to expand its 4-mile lateral drilling program in North Dakota's Williston Basin this year after completing its first such well, which surpassed 30,400 feet in total depth. The company also plans to bring 130 to 150 gross operated wells online this year and is considering selling non-operated Marcellus Shale gas assets acquired from Enerplus.
The AI-driven surge in electricity demand is pushing...
The AI-driven surge in electricity demand is pushing US utilities and tech companies to double down on natural gas infrastructure. Enverus expects 46 gigawatts of new gas-fired capacity to come online in the next five years, surpassing the past five years' 39 gigawatts. Gas will remain the preferred energy solution in the short term due to its reliability, affordability and speed of deployment, according to Rob Jennings of the American Petroleum Institute.
The jobs report is out Friday and expected to show a ...
The jobs report is out Friday and expected to show a slight bump in hiring, and unemployment holding steady at 4%. Earnings reports from multiple retailers, including Target tomorrow and Costco on Thursday, will also offer insight into how Americans are spending with consumer confidence on the decline.
Tariffs against Canada, Mexico, and China set to begin tomorrow
Barring a last-minute change of heart, the US will ...
Barring a last-minute change of heart, the US will impose 25% tariffs on most imports from its North American neighbors but a smaller 10% tariff on energy products from Canada. Universal tariffs on imports from China will increase another 10% on top of the existing 10% surcharge. Trump said on Thursday that illicit drugs are still coming into the US and the additional taxes will force these countries to crack down on the trafficking.
