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\n US stocks closed mixed today as the onset of President Donald Trump\u2019s widespread tariff regime weighed on investor sentiment.\n <\/p>\n
\n The Dow closed lower by 224 points, or 0.51%. The S&P 500 fell 0.08%. Meanwhile, the Nasdaq rose 0.35% and closed at a record high after fluctuating between gains and losses.\n <\/p>\n
\n Stocks opened higher before mostly turning lower as investors assessed the implications of the tariffs. The Dow rose as much as 305 points, or 0.69%, before erasing its gains.\n <\/p>\n
\n The average effect tariff rate on US imports is now the highest since the 1930s, according to the Budget Lab at Yale.\n <\/p>\n
\n \u201cThere\u2019s just a lot of questions about what their economic effect is going to be, whether that\u2019s on inflation or on employment,\u201d said Thomas Martin, senior portfolio manager at Globalt Investments. \u201cWhen you have those questions, eventually a market that\u2019s at all-time highs and has been running here at high valuations is going to potentially come into some weakness.\u201d\n <\/p>\n
\n Gold prices gained 1%. The yellow metal is a haven amid uncertainty.\n <\/p>\n
\n As of this morning, 87% of companies in the S&P 500 had reported earnings for the second quarter, with 81% of those companies beating Wall Street\u2019s expectations, according to FactSet.\n <\/p>\n
\n As stocks have risen through earnings season, the bar for continued gains can be higher, according to Angelo Zino, technology analyst at CFRA Research.\n <\/p>\n
\n \u201cThe market almost is trying to take a breather,\u201d Zino said. \u201cIt\u2019s one of those situations where you kind of have to digest some of that stuff.\u201d\n <\/p>\n