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Stock impact report

Stock market today: Wall Street slips following Trump's latest tariffs, despite solid economic data [Globe and Mail, The (Toronto, Canada)]

Rivian Automotive, Inc. (RIVN) 
The S&P 500 slipped 0.3% after drifting between small gains and losses several times through the day. Better-than-expected data on the economy also helped support the market. The Dow Jones Industrial Average dipped 155 points, or 0.4%, and the Nasdaq composite fell 0.5%. General Motors sank 7.4% for one of the market’s sharper losses after Trump announced 25% tariffs on imported cars. Ford Motor dropped 3.9%. Even U.S. automakers selling vehicles in the country can feel the pain of such tariffs because their supply chains are spread throughout North America. Trump says he wants more manufacturing to take place within the United States. “There are still a lot of unknowns, but if this remains in place, there will clearly be some pain for the companies to digest,” according to UBS analyst Joseph Spak. Among the uncertainties are how the U.S. government will determine how to apply tariffs to parts that are compliant with the free-trade agreement that the United States and Mexico and C Show less Read more
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