US equities were volatile during the first quadruple witching of the year as Wall Street navigated heightened uncertainty from a massive options expiration event and ongoing trade tensions.
The S&P 500 slipped 0.3%, the Dow Jones dipped 80 points, and the Nasdaq hovered around the flatline.
While President Trump stated there would be “flexibility” in his reciprocal tariff plan, he remained firm on implementing the forthcoming duties.
Investors weighed mixed signals from the Federal Reserve and uncertainty surrounding Trump’s April 2 tariffs, which have cast a shadow over corporate outlooks.
A rebound in megacap stocks helped trim earlier losses, with Tesla rising 3.8%, though Nvidia’s shares was down 1%.
Meanwhile, FedEx tumbled 8% after cutting its earnings outlook due to industrial weakness, and Nike fell 5% on disappointing sales projections.
The S&P 500 and Nasdaq, which fell into correction territory amid a rough start to 2025, attempting to break their four-week losing streaks.
