US Stocks Mixed as Markets Weigh Tariffs and Fed Minutes

US stocks were mixed on Wednesday as investors reacted to President Trump’s latest 25% tariff announcement and awaited Federal Reserve minutes for insight into future policy.

Markets Cautious Amid Trade Policy Shifts

The benchmark S&P 500 (^GSPC) edged up 0.1% after closing at a fresh record on Tuesday, while the tech-heavy Nasdaq Composite (^IXIC) also remained in positive territory. The Dow Jones Industrial Average (^DJI) fell 0.3%.

Markets are in a wait-and-see mode as they assess the full impact of Trump’s fast-moving trade policies. Another tariff threat came late on Tuesday, when the president announced additional duties on autos, chips, and pharmaceuticals. A flat tariff “in the neighborhood of 25%” would apply to all foreign automakers starting as soon as April 2, he said.

Fed Minutes in Focus

Investors are also treading carefully as they await Wednesday’s release of minutes from the Fed’s January meeting. The key focus is on policymakers’ assessment of how Trump’s tariffs could affect inflation and influence the likelihood of future rate cuts. Recent statements from Fed officials indicate they expect to keep rates on hold while monitoring economic conditions.

Stock Market Resilience and Earnings Reports

Despite trade policy uncertainties, the S&P 500’s recent record high suggests resilience in equity markets. However, some stocks struggled—Etsy (ETSY) released disappointing earnings early Wednesday, weighing on investor sentiment.

With ongoing trade tensions and Fed policy considerations, markets are poised for volatility in the coming weeks.