Stocks Stall Amid Tariff Tensions and Economic Uncertainty

US stocks experienced a mixed day as tariffs imposed by President Trump came into effect. While the S&P 500 dropped slightly, the Nasdaq reached a new record. Concerns over economic impact of tariffs persist, despite positive corporate profits and potential interest rate cuts providing some counterbalance.

On Thursday, US stocks closed with mixed results as President Trump's tariffs affected dozens of countries. Despite initial fears, the tariffs' impact on global markets was limited, with the S&P 500 slightly declining and the Nasdaq achieving a record surge.

Although corporate profits exceeded expectations and potential interest rate cuts by the Federal Reserve offered hope, fears lingered about the tariffs' toll on the economy. Lower rates could spur growth, but inflation might rise. The Bank of England similarly adjusted rates to buoy the UK economy.

Stocks worldwide varied, with Asian markets reacting positively. However, concerns about overpriced US stocks persisted alongside trade tensions. Major players like Apple maintained stability by committing $100 billion to US manufacturing, while others, including Crocs, faced profit challenges due to tariff uncertainties.

(With inputs from agencies.)