Wall Street sees mixed trade as investors assess Trump's tariff path

S&P 500 and Nasdaq fell in trade while the Dow Jones posted marginal gains.

Wall Street opened on a mixed note on 26 March as investors remained cautious ahead of key economic data and awaited more clarity on the Trump administration's new tariffs set to take effect next week.

The S&P 500 slipped 0.3 percent, while the Dow Jones Industrial Average gained 219 points or 0.5 percent. The tech-heavy Nasdaq Composite dropped 1 percent, weighed down by selling across major tech stocks.

Nvidia and Tesla fell more than 3 percent in early trading, while Alphabet, Amazon, and Meta each lost over 1 percent. Wall Street remains on edge over concerns about rising inflation and slowing economic growth, particularly as it awaits President Donald Trump’s reciprocal tariffs, set to take effect on 2 April.

In a Newsmax interview on Tuesday, Trump suggested the tariffs might be 'more lenient than reciprocal' adding to earlier reports that the measures could be narrower in scope, with some sector-specific tariffs likely delayed.

On Tuesday, stocks closed slightly higher as optimism over a softer tariff approach offset weaker consumer confidence data, which showed US consumers' outlook on income, business, and job prospects had fallen to a 12-year low.

While Trump's words did offer some comfort uncertainty continues to hang over upcoming tariff measures.

Meanwhile, reports also hint that Trump may impose tariffs on copper imports in the coming weeks, according to sources cited by Bloomberg News.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.