U.S. Stocks Decline as Tariff Speculation and Weak Economic Data Rattle Markets

Automakers gain on potential tariff relief while CrowdStrike and other companies face setbacks due to disappointing guidance and earnings.

U.S. stock markets fell at midday after starting higher, driven by concerns over tariffs on Canada and Mexico and a weaker-than-expected private sector jobs report.
Commerce Secretary Howard Lutnick suggested that a deal to reduce tariffs on Canada and Mexico could be announced, boosting shares of automakers like GM, Ford, and Stellantis.
CrowdStrike shares dropped sharply after the company issued weaker-than-expected earnings guidance, despite reporting strong year-over-year revenue growth.
Other companies facing challenges included Thor Industries and AeroVironment, which reported unexpected losses and lowered outlooks due to slowing demand and specific disruptions.
Moderna and Novo Nordisk saw gains, with Moderna benefiting from insider stock purchases and Novo Nordisk announcing reduced pricing for its weight loss drug through a new pharmacy initiative.