Markets Steady as Investors Weigh Tariffs and Fed Testimony

U.S. stocks close mixed following new steel and aluminum tariffs, while the Federal Reserve signals no urgency for rate cuts.

President Trump announced a 25% tariff on all foreign steel and aluminum, raising concerns about potential trade wars and inflationary effects.
Federal Reserve Chair Jerome Powell reiterated that the central bank is in no rush to cut interest rates further, citing a stable economic outlook.
The S&P 500 ended nearly flat, while the Dow Jones gained 0.3% and the Nasdaq fell 0.4%, reflecting cautious investor sentiment.
Tesla shares dropped 6.3%, impacted by a reported $97 billion bid led by CEO Elon Musk to acquire OpenAI and competition from BYD's new self-driving technology.
DuPont shares surged 6.9% after reporting strong earnings driven by growth in electronics markets, with plans to spin off its electronics segment later this year.