The Nasdaq Composite briefly turned higher as Wall Street bought the dip in the tech-heavy index just as it was in danger of closing in correction territory.
The tech-heavy index was down just 0.2%. It traded in positive territory before pulling back. The S&P 500 was down 0.8%. The Dow Jones Industrial Average was down 486 points, or 1.1%, after falling more than 800 points earlier in the morning.
“With tariffs raising concerns about a potentially costly trade war, the S&P 500 has pulled back to its lowest level since early November,” writes writes Daniel Skelly, head of Morgan Stanley’s Wealth Management Market Research & Strategy Team. “But markets dislike uncertainty, and it remains to be seen whether some of the bearishness surrounding these tariffs will dissipate now that they’ve actually been implemented.”
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