S&P 500, Dow, Nasdaq stall with contemporary tariffs, Fed minutes in focus

Etsy (ETSY) shares slid roughly 6% in premarket buying and selling after the web market’s vacation gross sales fell wanting Wall Avenue estimates.

Fourth quarter income got here in at $852.2 million, in contrast with the $862.8 million anticipated, as spending on items and hand-made items faltered. It nonetheless grew 1.2% fr This autumn a 12 months in the past, because of energy in Etsy advertisements, the corporate mentioned.

One other key metric — consolidated gross merchandise gross sales (GMS) — additionally missed the mark, coming in at $3.74 billion, versus the $3.88 billion anticipated. GMS signifies the overall greenback worth of every little thing offered on Etsy’s platform.

The downbeat income figures eclipsed a revenue beat, with earnings per share of $1.03 topping the $0.93 estimated by analysts.

The record-setting rally in European shares hit a wall on Wednesday as disappointing earnings added to warning over Trump’s plan for tariffs on automobiles, chips, and medicines.

The pan-European Stoxx 600 (^STOXX) index pulled again 0.5% after closing at an all-time excessive on Tuesday. Philips (PHG, PHIA.AS) shares fell over 10% in Amsterdam after the medical gear maker forecast a drop in gross sales because of weak Chinese language spending.

In London, the FTSE 100 index (^FTSE) slid 0.4% as a shock soar in inflation to its highest degree in 10 months dented hopes for rate of interest cuts.

Elsewhere, Germany’s DAX (^GDAXI) sank 0.8%, whereas the CAC (^FCHI) in Paris retreated 0.7% as issues about safety and commerce constructed amid tariff threats and a warming in US-Russia relations.

President Trump has turned his tariff bazooka on imports of autos, chips, and prescription drugs, vowing late Tuesday to impose extra duties of a minimum of 25%.

Reuters stories:

Automakers around the globe — together with the US — had been already dealing with a threat that Trump’s already introduced tariffs on Mexico would hit their crops there. US-listed shares of Stellantis (STLA) slid over 2% in premarket buying and selling on Wednesday, whereas Toyota (TM) shed 1%. Volkswagen’s (VOW3.DE) pulled again over 2% in Europe.

Learn extra on the deliberate tariffs right here.

Asian markets have slumped, reversing a five-day rally, underneath stress from President Donald Trump’s tariff threats and issues over the sustainability of a $1 trillion rally in Chinese language shares.

Bloomberg stories:

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HSBC (HSBC) launched stories from final quarter Wednesday, with the multinational banking company unveiling a 6.6% rise in annual revenue — beating market expectations and falling rates of interest.

Reuters stories:

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Oil pushed upward Wednesday towards the backdrop of the Ukraine-Russia struggle persevering with to trigger oil disruptions. Markets are poised for a fast response to the US-Russian peace talks in an evolving state of affairs.

From Reuters:

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