Dow Jones pares gains as markets brace for ongoing trade tensions
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The Dow Jones backslid on Thursday, falling back below 40,000. Equities are souring as investors hunker down for messy, prolonged trade frictions. US CPI inflation ticked lower in a welcome reprieve, but tariff effects still loom ahead. The Dow Jones Industrial Average (DJIA) eased lower on Thursday, backsliding below the 40,000 handle as investors rethink this week’s record-setting surge after the Trump administration announced yet another last-minute pivot away from its own confusing tariffs. Despite delaying the majority of President Trump’s “reciprocal” tariffs, an across-the-board 10% import levy is still in effect during the 90–day ‘grace period’, and a 145% tariff on all Chinese imports is still in effect. On top of the eye-watering 145% tariff on Chinese goods, China has slapped its own 84% retaliatory tariff on all imports from the US, which will overwhelmingly impact US agriculture and energy, two darlings of the Trump administration. Additionally, the 10% interim tariff also applies to all goods from Canada and Mexico and promises to cause pricing problems for US consumers, who remain notably sensitive to upside price pressures. Read more stock news: US stocks slide after historic Wednesday rally, NASDAQ down 5.7% on Thursday US Consumer Price Index (CPI) inflation came in well below expectations in March. Core CPI eased to 2.8% YoY, reaching a four-year low after stubbornly holding above 3.0% for nearly eight months. Headline CPI inflation also eased to 2.4% YoY, and investment markets will be devastated if tariffs undo years’ worth of work by the Federal Reserve (Fed) to bring inflation to heel. This week will wrap up with University of Michigan (UoM) Consumer Sentiment Index survey results on Friday. The UoM Consumer Sentiment Index is expected to contract yet again in April as consumers continue to buckle under the weight of the Trump administration’s tariff…
Filed under: News - @ April 10, 2025 6:24 pm