Stock market today: Dow futures slide, S&P 500, Nasdaq futures pop after sharp sell-off

2 months ago 12

Updated Thu, Apr 17, 2025, 5:00 AM 2 min read

Stocks extended their descent connected Wednesday arsenic Powell, speaking successful Chicago, issued his starkest informing yet connected however tariffs could impact the US economy. The Fed seat said the cardinal slope would apt look a "challenging scenario" considering helium expects the levies to exacerbate ostentation and dilatory economical growth.

Read more: The latest connected Trump's tariffs

Powell besides threw acold h2o connected hopes the cardinal slope would imminently slash involvement rates arsenic tariffs rotation in, saying Fed officials volition "wait for greater clarity" connected Trump's commercialized policy.

Before and aft Powell spoke, Nvidia (NVDA) shares tanked connected quality the spot elephantine would look caller curbs from the US authorities connected income to China. Shares were level Thursday.

Wall Street's firm absorption volition crook to Netflix's (NFLX) quarterly net report, which is acceptable for merchandise aft the bell. With Big Tech unsettled by Trump's tariffs, the streaming elephantine has emerged arsenic a uncommon agleam spot among the radical and investors clasp precocious hopes for its results.

Meanwhile, TSMC (TSM) reported a 60% surge successful first-quarter nett net connected Thursday, topping forecasts arsenic booming request for chips utilized successful AI applications drove beardown maturation astatine the world’s largest declaration chipmaker.

UnitedHealth (UNH) chopped its yearly nett forecast connected Thursday, citing persistently precocious aesculapian costs. Shares plunged 19% successful premarket trading.

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Trending tickers successful premarket trading: UnitedHealth, Eli Lilly, Hertz, TSMC

Here are immoderate of the apical trending tickers to ticker successful today's trading:
Trump says "Too Late" Jerome Powell of the Fed should little rates

President Trump took to societal media connected Thursday to knock the Federal Reserve and its chair, Jerome Powell, for not cutting involvement rates soon enough.

Trump said the European Central Bank is expected to chopped involvement rates for the seventh time, "yet 'Too Late' Jerome Powell of the Fed, who is ever TOO LATE AND WRONG, yesterday issued a study which was another, and typical, implicit 'mess!'"

Trump went connected to write: "Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should person lowered Interest Rates, similar the ECB, agelong ago, but helium should surely little them now. Powell’s termination cannot travel accelerated enough!"

During a code successful Chicago connected Wednesday, Powell said that the cardinal slope volition "wait for greater clarity" earlier considering immoderate involvement complaint adjustments. He warned of the "challenging" impacts of the tariff uncertainty, which has gripped the system and markets successful caller weeks.
Good morning. Here's what's happening today.
Gold pauses record-breaking rally arsenic marketplace ponders commercialized talks

Bloomberg News reports:

Gold (GC=F) paused its record-breaking rally amid optimism implicit US-Japan commercialized talks, aft bullion earlier reached different all-time high.

The precious metallic edged little to commercialized astir $3,325 an ounce, aft its biggest one-day summation successful 2 years connected Wednesday. That leap came connected dollar weakness and arsenic Federal Reserve Chief Jerome Powell signaled a wait-and-see attack to tariffs, pushing backmost connected hopes the cardinal slope would enactment rapidly to soothe capitalist fears.

The precious metallic has climbed astir 27% this twelvemonth — matching the summation it notched successful 2024 — arsenic US President Donald Trump’s escalating commercialized warfare creates anxiousness implicit a imaginable planetary recession. That uncertainty is benefiting gold, said Nicholas Frappell, planetary caput of organization marketplace astatine ABC Refinery based successful Sydney.

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Dollar clings to gains but heads for 4th consecutive play loss

The dollar (DX=F) attempted a rebound Thursday up of the Easter interruption but remained acceptable for a 4th consecutive play nonaccomplishment arsenic tariff turmoil dented confidence.

Reuters reports:
TSMC nett soars 60% for Q1, beating expectations

Reuters reports:

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Oil moves toward play emergence connected US sanctions against Iran

Crude prices climbed higher precocious Wednesday arsenic the US rolled retired caller sanctions aimed astatine choking disconnected Iranian lipid exports. The determination stoked proviso concerns arsenic respective OPEC members signalled further accumulation cuts to offset caller overproduction, reinforcing expectations of a tighter planetary marketplace ahead.

Reuters reports:

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