07.08.202520:02:45UTC+00US Equities Close Mixed Amid Trade Uncertainties

On Thursday, the S&P 500 experienced a marginal decline of nearly 0.1%, while the Dow Jones Industrial Average decreased by 224 points, or 0.5%. The early gains faded due to resurfacing trade tensions sparked by President Trump's policies. The Nasdaq 100, however, registered a slight uptick of 0.3%, driven initially by a boost in semiconductor stocks following Trump's declaration of a 100% tariff on imported chips, exempting those manufactured domestically. Nevertheless, broader concerns about trade quickly dampened investor optimism. Additionally, the market was influenced by speculation that Fed Governor Christopher Waller might be President Trump's nominee for Federal Reserve Chair, heightening expectations of an interest rate cut in September. In corporate developments, Eli Lilly saw its shares plummet by 14.1% following disappointing outcomes from an obesity drug trial. Meanwhile, Intel's stock dropped 3.1% after Trump called for the resignation of the company’s CEO, both incidents contributing to overall market declines. Contrastingly, Apple shares defied the trend, climbing 3.2% after the tech giant unveiled a $100 billion investment strategy in the United States, complementing its previous commitments.