Overview

• U.S. stocks closed lower on Sept. 2, with the Dow down 0.55%, the S&P 500 off 0.69% and the Nasdaq falling 0.82%.
• A federal appeals court ruled that many of the president’s tariffs exceed authority under the 1977 IEEPA, asserting broad tariff power rests with Congress.
• The measures remain in force pending further appeals that could reach the Supreme Court, sustaining uncertainty for companies and trade partners.
• Treasury yields rose, with the 10‑year near 4.27% and the 30‑year around 4.97%, as investors weighed potential fiscal risks including possible tariff‑revenue refunds.
• Technology and industrial shares underperformed, Nvidia declined, and attention shifted to Friday’s U.S. jobs report; premarket on Sept. 3 pointed to a modest rebound helped by a favorable court ruling for Alphabet and Apple.