U.S. Stocks See Mixed Performance Amid Trade Tensions and Fed Signals
U.S.stocks closed with mixed results on Thursday. The Dow Jones Industrial Average dropped 1.2%, mainly due to UnitedHealth’s 23% plunge. The company lowered its full-year profit forecast, causing the decline.Meanwhile, the S&P 500 gained 0.2%, supported by some sector gains. The tech-heavy Nasdaq Composite fell slightly by 0.13%.
Investors are watching the Federal Reserve closely. Fed Chair Jerome Powell warned that higher tariffs could slow growth and increase inflation. He said the Fed would wait for clearer trade policy signals before deciding on interest rates. This dampened hopes for immediate rate cuts.
President Trump criticized Powell, even discussing his possible replacement. Reports suggest Trump spoke with former Fed governor Kevin Warsh as a potential successor. This added to market uncertainty.
Elsewhere, chipmaker TSMC reported a 60% surge in Q1 net profit, driven by AI chip demand. Investors await Netflix’s earnings, seen as a tech luminous spot. The 10-year Treasury yield rose to 4.325%, and the U.S. dollar increased slightly. Stock and bond markets will be closed on Friday for Good Friday.
Bitcoin briefly traded above $85,000 but settled around $84,600. The crypto market remains volatile, reflecting broader economic concerns.
