US benchmark equity indexes are on track for a lower close on Tuesday after Canada and China imposed tariffs on US products in retaliation for trade duties imposed by Trump's administration.
The Dow Jones Industrial Average fell 1.6% to 42,483.4, while the S&P 500 dropped 1.5% to 5,763.3. The Nasdaq Composite was down 0.5% to 18,252.8. Technology posted gains today while financials saw the steepest decline.
Best Buy (BBY) was the worst performer on the S&P 500 with shares down 11% after Chief Executive Corie Barry warned of price rises due to tariffs. The company's Q4 performance exceeded analyst predictions, but its annual earnings forecast landed below the average Wall Street projection.
Super Micro Computer (SMCI) recovered after Monday's fall and the company's shares were up over 11%.
Walgreens Boots Alliance (WBA) was among the top performers on the S&P 500 after the Wall Street Journal's report that the company is nearing a deal with private-equity firm Sycamore Partners to take itself private for about $10 billion.
The 10-year US Treasury yield gained 0.05 basis points to 4.2%, while the two-year rate was down slightly to about 4%.
April West Texas Intermediate crude oil was up 0.1% at $68.41 a barrel.
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