US open: Dow heads south as tariffs remain in focus

(Sharecast News) - Major indices were in the red early on Tuesday as investors digested a report from the Washington Post that the White House was considering slapping 20% tariffs on most imports into the US.

As of 1530 BST, the Dow Jones Industrial Average was down 0.90% at 41,621.98, while the S&P 500 lost 0.65% to 5,575.51 and the Nasdaq Composite lost 0.47% to 17,218.52.

The Dow opened 379.78 points lower on Tuesday, almost reversing gains recorded in the previous session as the blue-chip index wrapped up an otherwise disappointing Q1 on a high.

Traders continued to look ahead to Donald Trump's 'Liberation Day' tariff announcements on Wednesday, with the White House expected to unveil reciprocal tariffs on goods from virtually all countries, rather than just the 10-15 with trade imbalances with the US.

Also in focus were a pair of manufacturing purchasing managers' index reports, with S&P Global's manufacturing PMI falling to 50.20 in March, down from 52.70 in February, while the Institute for Supply Management's manufacturing PMI slipped to 49 in March, down from 50.3 in the prior month and below forecasts a reading of 49.5. The decline in the ISM's PMI marked the first contraction in factory activity in three months.

Elsewhere on the macro front, job openings decreased by 194,000 in February to 7.56m, according to the Bureau of Labor Statistics' JOLTS jobs report, down from an upwardly revised reading of 7.76m in January and consensus estimates for a print of 7.63m.

Finally, construction spending rose 0.70% month-on-month in February, according to the Census Bureau.

In the corporate space, Calvin Klein parent company PVH traded sharply higher on the back of a Q4 earnings and revenue beat, while Johnson & Johnson shares headed south after a Houston judge threw out a $10.0bn proposal to settle tens of thousands of suits that allege its talc products cause ovarian cancer.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Apple Inc. (AAPL) $221.50 1.61%

Microsoft Corp. (MSFT) $376.20 1.43%

Cisco Systems Inc. (CSCO) $61.13 1.24%

Walmart Inc. (WMT) $88.26 0.54%

Amgen Inc. (AMGN) $308.30 0.50%

Dowdupont Inc. (DWDP) $0.00 0.00%

Verizon Communications Inc. (VZ) $45.35 -0.03%

Unitedhealth Group Inc. (UNH) $522.84 -0.17%

Nike Inc. (NKE) $63.37 -0.18%

McDonald's Corp. (MCD) $311.30 -0.34%

Dow Jones - Fallers

Johnson & Johnson (JNJ) $157.60 -4.97%

Boeing Co. (BA) $164.35 -3.64%

Goldman Sachs Group Inc. (GS) $533.94 -2.26%

Dow Chemical Co. (DOW) $34.19 -2.09%

Merck & Co. Inc. (MRK) $87.97 -1.99%

Intel Corp. (INTC) $21.94 -1.86%

JP Morgan Chase & Co. (JPM) $240.94 -1.78%

International Business Machines Corporation (CDI) (IBM) $244.60 -1.63%

Caterpillar Inc. (CAT) $324.56 -1.59%

Walt Disney Co. (DIS) $97.32 -1.40%

S&P 500 - Risers

PVH Corp. (PVH) $75.47 16.75%

Dollar Tree Inc (DLTR) $75.43 5.27%

Ross Stores Inc. (ROST) $128.07 2.71%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $369.06 2.67%

Costco Wholesale Corp. (COST) $949.13 2.41%

Starbucks Corp. (SBUX) $97.62 2.40%

LKQ Corporation (LKQ) $42.29 2.29%

Copart Inc. (CPRT) $56.07 2.02%

Intuit Inc. (INTU) $610.46 2.00%

Autodesk Inc. (ADSK) $260.80 2.00%

S&P 500 - Fallers

Nektar Therapeutics (NKTR) $0.65 -7.07%

Delta Airlines Inc. (DAL) $40.86 -6.28%

Johnson & Johnson (JNJ) $157.60 -4.97%

Alaska Air Group Inc. (ALK) $46.82 -4.88%

Omnicom Group Inc. (OMC) $79.31 -4.34%

Southwest Airlines Co. (LUV) $32.17 -4.21%

Interpublic Group of Companies Inc. (IPG) $26.04 -4.12%

Boeing Co. (BA) $164.35 -3.64%

Norwegian Cruise Line Holdings Ltd (NCLH) $18.36 -3.14%

Jefferies Financial Group Inc. (JEF) $51.91 -3.10%

Nasdaq 100 - Risers

Dollar Tree Inc (DLTR) $75.43 5.27%

Tesla Inc (TSLA) $262.09 4.98%

NetEase Inc. Ads (NTES) $105.21 4.07%

Ross Stores Inc. (ROST) $128.07 2.71%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $369.06 2.67%

Costco Wholesale Corp. (COST) $949.13 2.41%

Starbucks Corp. (SBUX) $97.62 2.40%

Intuit Inc. (INTU) $610.46 2.00%

Autodesk Inc. (ADSK) $260.80 2.00%

Meta Platforms Inc. (META) $574.85 1.74%

Nasdaq 100 - Fallers

Mercadolibre Inc. (MELI) $1,922.92 -4.09%

Workday, Inc. (WDAY) $230.73 -2.26%

Booking Holdings Inc. (BKNG) $4,540.73 -2.02%

Intel Corp. (INTC) $21.94 -1.86%

Analog Devices Inc. (ADI) $196.35 -1.85%

Biogen Inc (BIIB) $135.59 -1.73%

Charter Communications Inc. (CHTR) $364.11 -1.67%

Biomarin Pharmaceutical Inc. (BMRN) $69.76 -1.59%

Sirius XM Holdings Inc (SIRI) $22.05 -1.56%

Expedia Group Inc. (EXPE) $163.21 -1.49%