The actions in Wall Street closed with a strong decline on Wednesday, weighed by the losses of Nvidia and Tesla, while investors waited for information about the tariffs long promised by the United States to car imports.
President Donald Trump planned to announce his plans to impose tariffs on the automotive industry at a press conference this Wednesday, which would intensify the global commercial war that began this year.
Experts from the automotive industry expect the measure to increase prices and stop production.
For weeks, Trump has promised to announce a series of reciprocal tariffs on April 2.
Tesla’s actions fell 5.6% and those of General Motors retreated 3.1%, with insecure investors on the scale of tariffs, reprisal measures of commercial partners and the possible domino effects on the economy and global companies.
“Markets detest tariff uncertainty, especially in the automotive sector. Cars are the zero zone of the negative economic impacts of tariffs,” said Jamie Cox, managing partner of Harris Financial Group.
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The Nvidia chips manufacturer fell almost 6% and Broadcom retreated 5%.
The S&P 500 dropped 1.12% to 5.712.20 points, the NASDAQ dropped 2.04% to 17,899.02 points and the Dow Jones Industrial Avenge fell 0.31% to 42,454.79 points.
Of the 11 sectoral indices of the S&P 500, six declined, led by the information technology sector with a 2.46% drop, followed by a 2.04% loss in communication services.
A survey revealed a decrease in optimism among the main business executives in the first quarter.
The companies, suspicious of the price increases derived from the tariffs, rushed to accumulate inventories. The data showed an unexpected increase last month in the orders of durable goods manufactured in the United States.
However, the European Union Commissioner later revealed in the social network X that hard work continues.
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Barclays downward his objective of the S&P 500, from 6,600 to 5,900 points. The S&P 500 has lost 3% so far from 2025, while Nasdaq has fallen more than 7%.
The main focus at the end of this week will be the price index of personal consumption expenses – the favorite inflation indicator of the Federal Reserve – that will be published on Friday.
The president of the Federal Reserve of Minneapolis, Neel Kashkari, said he was not sure of the effect of Trump’s tariffs, with the possibility that prices could rise, and advocated higher interest rates.
With Reuters information
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