Wall Street Dives As Hopes Wane For Tariff Delays

Wall Street suffered another session of sharp losses as investors’ hopes for US delays or concessions on tariffs ahead of a midnight deadline turned to despair.

The White House’s press secretary, Karoline Leavitt, poured water on hopes that Donald Trump might delay his tariffs set to kick in on Wednesday (9).

The S&P 500 fell 79.48 points, or 1.6%, to 4,982.77, after surging 4% earlier in the day.

The Dow Jones Industrial Average fell 320.01 points, or 0.8%, to 37,645.59.

The Nasdaq composite fell 335.35 points, or 2.1%, to 15,267.91.

The Russell 2000 index of smaller companies fell 49.43 points, or 2.7%, to 1,760.71.

The CBOE Volatility Index, seen as Wall Street’s “fear gauge”, was last up 5.35 points at 52.33, the highest close since 1 April, 2020.

Tesla and Apple each dropped about 6%.

Oil prices fell more than $1 a barrel on Tuesday, trading at four-year lows.

Source: Guardian