It’s been another volatile day on Wall Street, and stocks are fluctuating as President Donald Trump’s expected announcement on tariffs nears.
After gradually climbing midday, US stocks have fallen from their peaks, though were holding onto their gains in afternoon trading.
The Dow was higher by 97 points, or 0.23%. The benchmark S&P 500 index was up 0.26%. The tech-heavy Nasdaq Composite gained 0.4%.
The blue-chip Dow rose nearly 400 points in the early afternoon before flirting with sliding back into the red — but ultimately stalled in the green.
Markets have been choppy in the weeks leading up to Trump’s announcement on tariffs, set for 4 p.m. ET. As investors have wrestled with uncertainty, some think the market might be oversold.
“I just feel like this is one of those moments where the bark may have been worse than the bite,” said Jamie Cox, managing partner at Harris Financial Group. “The [stock] prices have declined to such a degree that the eventual announcement is, you know, less bad than what was anticipated.”
US stock markets will close at 4 p.m. ET, though stock futures trading will continue into the afternoon as investors digest Trump’s announcement on tariffs.
“Investors are obviously very concerned about the risks to the US economy from these [tariff] plans,” said JoAnne Bianco, senior investment strategist at BondBloxx.
“We would just love to see more clarity,” Bianco said.