Major U.S. stock indices have slipped to new session lows, giving back large gains seen earlier in the day.
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NASDAQ is currently up 63 points (+0.40%) at 15,666, but was up as much as 713 points earlier, reaching a high of 16,316.51—a sharp intraday reversal.
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S&P 500 is now up 33 points (+0.67%) at 5,096.59, well off its session high when it was up 205 points.
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Dow Jones Industrial Average is up 430 points (+1.13%) at 38,396, after having surged as much as 1,461 points at session highs.
The pullback followed comments from White House Press Secretary Levitt, confirming that an additional 104% in tariffs went into effect at noon ET—a stark reminder of the risks to growth and inflation tied to escalating trade tensions.
This article was written by Greg Michalowski at www.forexlive.com.
