Wall Street Rally Fizzles as Tariff Tensions Linger
Team Veye | 06-May-2025
U.S. Indexes closed lower on Monday, pulled down by Oil & Gas and Consumer Goods. MSCI’s global equities index also declined in the face of uncertainty around tariffs. while oil prices fell on the anticipation of production jumps.
At the close in NYSE, the Dow Jones Industrial Average was down by 0.24%, losing 98.29 points to end the day at 41219.14. The S&P 500, too, fell by 0.63% with Nasdaq Composite declining by 0.74%, to 17844.24.
Gold prices surged, prompted by a weaker U.S. dollar and in view of upcoming Federal Reserve’s meeting on interest rate policy. Investors seemed to be rushing towards safe haven, a demand that usually raises its head at the slightest hint of an interest rate cut.
Though Fed meeting outcome would be pivotal, the announcement of US-China remaining open to negotiations has infused some optimism. Investors, however, are still wary of these developments as they take this with some scepticism convinced that this is mere political posturing, unless it makes real progress on the ground.
(Source: Reuters)
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