Stock Market Today: Dow, Nasdaq, S&P 500 Climb Amid Rate Cut Hopes and Tariff Concerns

In addition to concerns about the job market, investors also paid attention to the new tariffs that the White House implemented. The new tariffs, which range from 10% to 41%, are likely to affect many goods from major trading partners. For example, Canada now has a 35% tariff, up from 25%, and goods that are transshipped will have to pay a 40% duty.

These changes also raised worries about added inflation and slower economic growth. Bank stocks fell sharply on Friday amid fears of lower loan demand. JPMorgan lost over 2%, while Bank of America and Wells Fargo declined more than 3% each.

Analysts noted that valuation concerns and narrowing market breadth contributed to defensive positioning. “Growth concerns are mounting, and traders are rotating out of high-multiple stocks,” said Joseph Cusick of Calamos Investments.

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