U.S. equities start the day down following a massive rally the previous day
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TroibNews 
Wall Street stocks opened significantly lower on Thursday, receding from the substantial gains achieved in the previous session after U.S. President Donald Trump scaled back several of his trade tariffs.
All three major indices were deep in the red following one of the largest single-day rallies in history just a day earlier.
Approximately 15 minutes into trading, the Dow Jones Industrial Average had dropped 1.8 percent to 39,859.39.
The broad-based S&P 500 fell 2.2 percent to 5,335.61, while the tech-heavy Nasdaq Composite Index declined by 2.8 percent to 16,653.99.
These declines occurred after U.S. consumer inflation showed a decrease of 0.1 percent from the prior month, a figure that fell short of analyst expectations. Some market analysts suggested that this inflation reading increases the likelihood of interest rate cuts by the Federal Reserve.
However, many analysts indicated that the inflation report was a secondary concern early Thursday compared to the fallout from Trump's tariff decisions on Wednesday, which had led to considerable equity rallies in both Asia and Europe.
"The 'backtracking' in U.S. stocks is not surprising," noted Briefing.com analyst Patrick O'Hare.
"Given the scope of yesterday's gains, we suspect plenty of participants saw that as a gift that made them close to whole again in terms of the tariff sell-off and are opting to get out knowing that the tariff, economic, and earnings uncertainty was not resolved with yesterday's 90-day pause and escalated tariff action for China."
Trump's broad tariff measures unsettled global markets, resulting in increased yields on U.S. Treasury bonds, which some analysts argue played a pivotal role in influencing Trump's policy retreat.
Camille Lefevre for TROIB News
All three major indices were deep in the red following one of the largest single-day rallies in history just a day earlier.
Approximately 15 minutes into trading, the Dow Jones Industrial Average had dropped 1.8 percent to 39,859.39.
The broad-based S&P 500 fell 2.2 percent to 5,335.61, while the tech-heavy Nasdaq Composite Index declined by 2.8 percent to 16,653.99.
These declines occurred after U.S. consumer inflation showed a decrease of 0.1 percent from the prior month, a figure that fell short of analyst expectations. Some market analysts suggested that this inflation reading increases the likelihood of interest rate cuts by the Federal Reserve.
However, many analysts indicated that the inflation report was a secondary concern early Thursday compared to the fallout from Trump's tariff decisions on Wednesday, which had led to considerable equity rallies in both Asia and Europe.
"The 'backtracking' in U.S. stocks is not surprising," noted Briefing.com analyst Patrick O'Hare.
"Given the scope of yesterday's gains, we suspect plenty of participants saw that as a gift that made them close to whole again in terms of the tariff sell-off and are opting to get out knowing that the tariff, economic, and earnings uncertainty was not resolved with yesterday's 90-day pause and escalated tariff action for China."
Trump's broad tariff measures unsettled global markets, resulting in increased yields on U.S. Treasury bonds, which some analysts argue played a pivotal role in influencing Trump's policy retreat.
Camille Lefevre for TROIB News
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