Wall Street drifts lower as S&P 500 flirts with its first loss of the week
Wall Street drifts lower as S&P 500 flirts with its first loss of the week
NEW YORK (AP) — U.S. stocks are drifting lower following a jumble of mixed reports that shed little clarity on how the U.S. economy is managing through President Donald Trump’s trade war.
The S&P 500 slipped 0.4% Thursday and was on track for its first drop of the week. The Dow Jones Industrial Average fell 176 points, and the Nasdaq composite sank 0.7%.
Treasury yields also fell following the reports, which altogether suggested the Federal Reserve may have more room to cut interest rates later this year to bolster the U.S. economy if it weakens under the weight of high tariffs. Oil prices fell.
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