U.S. stocks fell Tuesday, as the market awaited clarity from President Donald Trump regarding his tariff policy rollout. Tuesday also marks the beginning of the second-quarter after a bumpy first quarter.
The White House on Wednesday is expected to unveil reciprocal tariffs on goods from virtually all countries. Investors had been hoping for a narrow approach toward administering the levies.
On Tuesday, The Washington Post reported that the Trump administration is considering implementing tariffs of about 20% to most imports into the U.S. To be sure, the report — which cited three sources familiar with the matter — noted that no final decision had been made.
Shares of electric-vehicle company Tesla rose about 2%. The stock closed with a loss of 1.7% on Monday and ended the first quarter down 36%, its worst first quarter on record, according to Dow Jones Market Data. Tesla is expected to releasefirst-quarter delivery figureson Wednesday with Wall Street estimating about 380,000 vehicles. Analysts have been reducing their estimates, in part because CEO Elon Musk has received backlash from his close alignment with President Trump and his position in the administration’s Department of Government Efficiency.
Newsmax, the conservative-leaning media company, rose 50% in morning trading after making its debut Monday on Wall Street. Newsmax sold 7.5 million shares at an initial public offering price price of $10 and shares surged 735% on Monday to close at $83.51.
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