Market Turmoil as Trade War Concerns Escalate

Stocks experienced a downturn following the US's advancement of tariffs on automakers, intensifying worries over an expanding trade war. This development overshadowed positive data indicating faster-than-expected growth in the world's largest economy.

Quarterly Performance Hits a Low

As the quarter draws to a close, the S&P 500 is on track to record its poorest performance since 2023. The index faced additional pressure after US President Donald Trump enacted a proclamation imposing a 25% tariff on auto imports.

Market indices showed mixed reactions: The S&P fell by 0.2%, the Nasdaq decreased by 0.3%, and the Dow Jones index also dropped by 0.3%.