The Dow finished 0.4% lower, slipping 116 points. The S&P 500 closed down 0.7%, while the Nasdaq Composite finished 0.5% lower.It was the worst one-day percentage drop in more than three weeks for the S&P, according to Refinitiv.President Donald Trump said during a cabinet meeting on Tuesday afternoon that he could impose further tariffs on Chinese imports.
The Fed's Beige Book described the US economy as modestly expanding, but also talked of widespread concerns about the impact of tariffs.Oil prices settled 1.5% lower at $56.78 a barrel, according to CME, after a larger-than-expected inventory buildup reported by the Energy Information Administration pushed prices down. While crude oil inventories fell, gasoline and distillates inventories rose more sharply than expected.Oil started the day rebounding from Tuesday's 3% drop.
Lower the fed and pass USMCA!!!
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