(Bloomberg) — Stocks fell after the US pushed ahead with tariffs on automakers, reinforcing concern about a widening trade war and offsetting data that showed faster-than-estimated growth in the world’s largest economy.
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Just days before the end of a quarter that’s set to be the worst for the S&P 500 since 2023, the gauge slipped anew. Giants from Toyota Motor Corp. to Mercedes-Benz Group AG and General Motors Co. got hit. AppLovin Corp. sank on a short report from Muddy Waters. Megacaps were mixed, with Apple Inc. up and Nvidia Corp. down. In late hours, Lululemon Athletica Inc. gave a gloomy outlook. Bonds flashed concerns about inflation as short-dated Treasuries outperformed longer ones.
President Donald Trump signed a proclamation to implement a 25% tariff on auto imports and pledged harsher punishment on the EU and Canada if they join…
