Dow slips, S&P500 inches up, Nasdaq gains as markets eye Trump’s tariff decision

Markets have been on a rollercoaster, with the S&P 500 hitting a six-month low on Monday before rebounding.

Wall Street remained on edge Tuesday, April 1 with stocks swinging between gains and losses as investors awaited clarity on President Donald Trump’s tariff plans scheduled for April 2.

The S&P 500 managed to inch up 0.3 percent, while the Nasdaq Composite climbed 0.73 percent. The Dow Jones Industrial Average, however, slipped 50 points, or 0.12 percent.

Also read: Trump's 'Liberation Day' tariffs to come into effect immediately: White House

Uncertainty over trade policy kept markets volatile, compounded by weak economic data. The Institute for Supply Management’s manufacturing survey showed contraction, falling short of expectations, while job openings in February came in below forecasts, according to the Bureau of Labor Statistics.

It reported that available positions declined by 194,000 from January to 7.57 million, just shy of the Dow Jones estimate of 7.6 million. The openings rate slipped to 4.5 percent, down 0.2 percentage point, while the ratio of job openings to available workers eased to 1.07 to 1.

Investors are now bracing for potential sweeping tariffs, with the White House set to announce its decision on Wednesday. Reports suggest the administration is considering a 20 percent tariff on most imports, though no final call has been made. The lack of clear direction has fueled market jitters.

The White House confirmed Tuesday that President Donald Trump’s tariffs will take effect immediately once announced.

Markets have been on a rollercoaster, with the S&P 500 hitting a six-month low on Monday before rebounding. The first quarter saw the index slide 4.6 percent, while the Nasdaq tumbled 10 percent—both logging their worst quarterly performances since 2022. The Dow shed 1.3 percent over the same period.