Dow Industrials Lead U.S. Indexes Lower; Automakers Slide on Tariff News -- WSJ

Dow Jones03-27

By Jack Pitcher and Ed Ballard

Stock indexes fell after the U.S. unveiled new tariffs on automakers.

President Trump said Wednesday he would slap 25% tariffs on automotive imports to the U.S. General Motors, Stellantis, and other automakers fell sharply Thursday.

Stocks of international rivals such as BMW, Toyota and Hyundai that export to the U.S. also came under pressure.

Foreign markets are more exposed to auto pain than the U.S., and some automakers have more to lose than others.

Overnight, the U.S. president threatened yet more tariffs. In a social-media post, he warned that if the European Union and Canada worked together to harm the U.S. economically, they would face levies that were "far larger than currently planned."

Indexes were set for fresh losses after the Nasdaq Composite fell 2% on Wednesday, and gold prices rose near a record.

But after sharp losses earlier in the month, bleeding related to tariff news appears to have slowed. Some Wall Street analysts are taking solace in a run of decent economic data reports, and it isn't clear how determined Trump is to stick with the tariffs long term.

In recent trading:

--Indexes stood modestly lower. The Dow Jones Industrial Average led declines.

--GameStop shares sank. The company said it plans to privately offer $1.3 billion of convertible senior notes and will use some of the proceeds to buy bitcoin.

--Dollar Tree shares jumped. The retailer said Wednesday it has agreed to sell its Family Dollar business.

--Benchmark Treasury yields crept upward. The 10-year yield had settled at 4.337% on Wednesday.

--Gold traded near a record high. Mounting trade uncertainty has driven demand for safe-haven assets.

--European stocks slipped. In Asia, Japan's Nikkei 225 lost 0.6%, while the Hang Seng Index added 0.4%. South Korea's Kospi lost 1.4%.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 27, 2025 14:48 ET (18:48 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Dow Industrials Lead U.S. Indexes Lower; Automakers Slide on Tariff News -- WSJ

Comments