The Nasdaq fell nearly 200 points today
Stocks finished a roller coaster session ultimately lower. Wall Street spent the entire day reacting to global trade rhetoric, as the U.S. and Mexico levied -- then paused -- tariffs against one another. The Nasdaq fell 235 points as tech stocks extended their recent slump. The Dow and S&P 500 also finished lower, the former trading in a wide 700-point range and the latter breaching the psychologically significant 6,000 level. Against this backdrop, the Cboe Volatility Index (VIX) nabbed its highest close since Jan. 10.
Continue reading for more on today's market, including:
5 Things to Know Today
- What tariffs on building materials mean for homebuyers. (CNBC)
- The U.S. trimmed its borrowing estimate for the first quarter. (Bloomberg)
- Consider married puts this Valentine's Day.
- Constellation Brands stock goes flat after tariffs.
- Why Zillow Group stock was downgraded.
Gold Prices Nab Another All-Time High
Oil futures rose following Trump's tariffs on Canada, Mexico, and China, which sparked worries over U.S. crude imports. March-dated West Texas Intermediate (WTI) crude added 63 cents, or 0.9%, to settle at $73.16 per barrel.
Tariffs also helped gold prices hit another all-time high, moving all the way up to $2,830.49 in intraday trading. The contract for February delivery was last seen trading 0.8% higher at $2,857.10 an ounce.