Wall Street struggles for direction amid tariff uncertainty, Nvidia slips

Elsewhere, the S&P 500 ended slightly above the flatline on Wednesday, breaking a four-day losing streak.

U.S. stocks saw a choppy session as investors weighed President Donald Trump’s tariff plans against mixed corporate and economic signals. The S&P 500 traded with a marginal 0.1 percent gain, possibly ending in the negative territory for the week and month. The Nasdaq Composite slipped 0.4 percent, pressured by a 3 percent drop in Nvidia, while the Dow Jones Industrial Average rose 229 points, or 0.54 percent, supported by strength in financials and defensive sectors.

Trump, in a Truth Social post, confirmed that 25 percent tariffs on Mexico and Canada will take effect on March 4, citing insufficient action on drug smuggling. He also announced an additional 10 percent tariff on China, which is already subject to U.S. levies.

Nvidia delivered strong quarterly results, surpassing estimates on both revenue and earnings while providing upbeat guidance amid the AI-driven chip demand. However, a dip in gross margins and its smallest revenue beat in two years sparked concerns about whether the stock’s rally could sustain.

Economic data also weighed on sentiment. Jobless claims rose to 242,000 for the week ending February 22, surpassing expectations and adding to a string of disappointing reports, including softer retail sales and consumer confidence figures. Investors are now focused on Friday’s personal consumption expenditures (PCE) price index, the Federal Reserve’s key inflation measure.

Elsewhere, the S&P 500 ended slightly above the flatline on Wednesday, breaking a four-day losing streak. The Dow slipped 188 points, or 0.4 percent, while the Nasdaq edged up 0.3 percent. With two sessions left in February, all three major indices remain on track for monthly losses.