The Dow Jones Industrial Average dropped 155.09 points, or 0.37%, to end at 42,299.70. The S&P 500 declined 0.33% to close at 5,693.31, and the Nasdaq Composite slid 0.53% to settle at 17,804.03.

Shares of several automakers declined on the announced 25% tariffs on “all cars that are not made in the United States,” which will go into effect on April 2. General Motors pulled back more than 7%, while  Ford slipped nearly 4%. Elon Musk’s Tesla added 0.4%, however. Several Wall Street analysts see Tesla as a relative beneficiary of Trump’s auto tariffs given the company’s domestic production. 

SPI down 8 - Gold better again - Election 3rd May.

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