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4h ago

S&P 500 Rally Ends as Tariff Worries Resurface and Fed Meeting Looms

U.S. stocks retreat after nine-session winning streak, with investors focusing on new tariffs and Federal Reserve policy decisions.

A board above the trading floor of the New York Stock Exchange displays the closing number for the Dow Jones industrial average, Monday, May 5, 2025. (AP Photo/Richard Drew)
Trader Edward Curran works on the floor of the New York Stock Exchange, Monday, May 5, 2025. (AP Photo/Richard Drew)
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Overview

  • The S&P 500 snapped its longest winning streak since 2004, falling 0.64% on Monday as tariff fears weighed on markets.
  • President Trump announced a 100% tariff on foreign-made films, sparking uncertainty about implementation and global trade relations.
  • Investors are closely watching the Federal Reserve’s two-day policy meeting, with interest rates expected to remain unchanged.
  • Oil prices dropped to four-year lows after OPEC+ accelerated production hikes, while gold surged past $3,300 per ounce as a safe-haven asset.
  • Warren Buffett confirmed he will step down as CEO of Berkshire Hathaway at the end of the year, naming Greg Abel as his successor.