Stock Market Today: Auto Tariffs Send Stocks Lower
The main indexes snapped their win streaks after the White House confirmed President Trump will talk about auto tariffs after the close.



The positive vibes that sparked a three-day win streak for stocks faded Wednesday, with all three main benchmarks ending the day in the red. Technology led the path lower, though consumer discretionary wasn't far behind as auto stocks tumbled on fresh tariff news.
At the close, the blue chip Dow Jones Industrial Average was down 0.3% at 42,454, the broader S&P 500 had shed 1.1% to 5,712, and the tech-heavy Nasdaq Composite had plunged 2.0% to 17,899.
Among the mega-cap stocks applying significant pressure to the Nasdaq were chipmakers Nvidia (NVDA, -5.7%) and Broadcom (AVGO, -4.8%) and electric vehicle maker Tesla (TSLA, -5.6%).
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Elsewhere, General Motors (GM, -3.1%) and Stellantis (STLA, -3.6%) closed lower after the White House confirmed that President Donald Trump will make an announcement on auto tariffs after today's close.
Tariffs will remain top of mind for investors through at least next Wednesday, April 2, which Trump has dubbed "Liberation Day." Specifically, it is when the administration will announce a series of reciprocal tariffs.
As such, market participants will likely remain on tenterhooks for the time being as "policy uncertainty lingers," says Daniel Skelly, head of Morgan Stanley's Wealth Management Market Research & Strategy Team.
Skelly adds that "next week's tariff deadline will likely be more of a starting point for negotiations than a conclusion, so the market may struggle to recover in a straight line higher."
Dollar Tree pops on Family Dollar sale
Not all of the day's action was to the downside, though. Dollar Tree (DLTR), for one, jumped 3.1% after the discount-store chain said it is selling its underperforming Family Dollar segment to a group of private investors for $1 billion – a massive discount to the $9 billion it paid for the business in 2015.
The company also disclosed its fourth-quarter earnings report, which showed a sharp drop in revenue vs the year prior, though it sees top-line growth stabilizing in fiscal 2025.
Ahead of earnings, UBS Global Research analyst Michael Lasser (Buy) said sentiment toward DLTR had become too negative due to "the string of downward estimate revisions, questions about the positioning of the dollar stores and concerns about the impact of tariffs."
He also cited uncertainty over the company's plans for Family Dollar. This created a risk-reward that was "heavily skewed toward the upside," he added – which may explain why DLTR was one of the best-performing S&P 500 stocks today.
GameStop shocks Wall Street
Elsewhere on the earnings calendar, GameStop (GME) soared 11.7% after the video game retailer said Q4 net income more than doubled on a year-over-year basis to $131.1 million.
Wall Street was also pleasantly surprised by a separate announcement that indicated GameStop's board of directors approved adding bitcoin as a treasury reserve asset.
The company admits that using cash or future debt to buy bitcoin may cause the value of its investment portfolio to decline given that the cryptocurrency is a "highly volatile asset and has experienced significant price fluctuations over time." However, it adds that it will continually examine "the risks and rewards" of its strategy.
"GameStop impressed us with a rare operating profit for its holiday quarter," says Wedbush analyst Michael Pachter. As for the company's bitcoin strategy, Pachter notes these investments could impact its interest income, though it's unlikely to rock the boat too much in the near term.
Pachter has an Underperform (Sell) rating on the meme stock but lifted his price target to $11.50 from $10. For reference, GME closed Wednesday at $28.36.
Related content
- How to Delete Your 23andMe Data
- CoreWeave IPO: Should You Buy CRWV Stock?
- Would You Benefit From Investing in Cryptocurrency?
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Ready to File? Test Your Social Security Application IQ
Quiz Test your basic knowledge of filing for Social Security benefits in our 10 question quick quiz.
-
A Vacation Home Sounds Dreamy, But Is It the Right Move for You?
A vacation home can be a relaxing getaway or a financial burden. Learn the pros and cons of owning a second home and how to decide if it fits your goals.
-
Should Your Brokerage Firm Be Your Bookie? A Financial Professional Weighs In
Some brokerage firms are promoting 'event contracts,' which are essentially yes-or-no wagers, blurring the lines between investing and gambling.
-
Supermarkets Have Become a Pickpockets' Paradise: How to Avoid Falling Victim
Some stores regularly rearrange inventory with the aim of increasing purchases, and they're creating opportunities for thieves to steal from customers.
-
Dow Adds 516 Points on Broad Optimism: Stock Market Today
Easing trade war tensions and promise from early earnings reports has investors looking on the bright side to start the week.
-
I'm a Wealth Adviser: These Are the Pros and Cons of Alternative Investments in Workplace Retirement Accounts
While alternatives offer diversification and higher potential returns, including them in your workplace retirement plan would require careful consideration.
-
I'm a Financial Planner: If You're Within 10 Years of Retiring, Do This Today
Don't want to run out of money in retirement? You need a retirement plan that accounts for income, market risk, taxes and more. Don't regret putting it off.
-
Five Keys to Retirement Happiness That Have Nothing to Do With Money
Consider how your housing needs will change, what you'll do with your time, maintaining social connections and keeping mentally and physically fit.
-
Six Warren Buffett Quotes Every Retiree Should Live By
The 'Oracle of Omaha' knows a thing or two about life, investing and retirement.
-
Budget Hacks Won't Cut It: These Five Strategies From a Financial Planner Can Help Build Significant Wealth
Cutting out your daily latte might make you feel virtuous, but tracking pennies won't pay off. Here are some strategies that can actually build wealth.