Updates on stock market trends and the economy from CNN.
The stock market’s early slide erased Friday’s gains and put the S&P 500 on track for its first weekly loss of the year. The Dow and Nasdaq are pacing for losses of more than 1% for the week.
Information technology and consumer discretionary stocks led the market lower. Shares of Applied Digital (ApD) surged 30% after the datacenter builder posted better-than-expected revenue. Wayfair (WFAR) and other furniture firms fell 7% as the Trump administration threatened new tariffs on Chinese goods.
Rare earth metals stocks gained after President Trump threatened “massive” tariff hikes against China in a social-media post accusing Beijing of holding the world captive to its restrictions on the minerals. MP Materials and USA Rare Earth both traded 13% higher.
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