US open: Stocks lower as Trump threatens further tariffs

(Sharecast News) - Major indices were in the red early on Thursday as market participants digested yet another key inflation reading and new tariff threats from the White House.

As of 1600 GMT, the Dow Jones Industrial Average was down 1.05% at 40,916.93, while the S&P 500 lost 1.11% to 5,537.19 and the Nasdaq Composite came out the gate 1.59% weaker at 281.36.

The Dow opened 434.00 points lower on Thursday, as the blue-chip index looked set to extend its losing streak to four sessions.

Thursday's primary focus was news that wholesale prices were unchanged in February, according to the Bureau of Labor Statistics, proving to somewhat quell inflation fears amid ongoing concerns regarding Donald Trump's trade war. Headline producer prices were flat against January's upwardly revised 0.6% month-on-month increase. Economists had been expecting to see a 0.3% monthly increase. On an annualised basis, producer prices rose 3.2%.

Last month's PPI reading comes just a day after February's consumer price index, the Federal Reserve's preferred inflation gauge, came in softer than expected on Wednesday, with headline inflation rising 0.2% month-on-month and 2.8% on an annualised basis.

On another note, Trump threatened to put 200% tariffs on all alcoholic products coming from countries in the European Union in retaliation for the bloc's 50% tariff on whisky, further rattling markets.

Elsewhere on the macro front, Americans lined up for unemployment benefits at a decelerated clip in the week ended 8 March, according to the Labor Department. Initial jobless claims fell by 2,000 to 220,000 last week, below market expectations for an uptick to 225,000, while continuing claims eased by 27,000 at 1.87m.

In the corporate space, discount retailer Dollar General posted better-than-expected Q4 sales but fell short of profit estimates as a result of sticky inflation and ongoing economic uncertainty.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $23.72 14.68%

Verizon Communications Inc. (VZ) $43.52 2.18%

Merck & Co. Inc. (MRK) $94.96 1.72%

Dow Chemical Co. (DOW) $36.25 1.40%

Travelers Company Inc. (TRV) $254.65 1.05%

Walgreens Boots Alliance, Inc. (WBA) $11.30 0.89%

McDonald's Corp. (MCD) $301.71 0.77%

Amgen Inc. (AMGN) $314.32 0.58%

Chevron Corp. (CVX) $153.25 0.38%

Boeing Co. (BA) $159.20 0.25%

Dow Jones - Fallers

Salesforce.Com Inc. (CRM) $271.34 -4.65%

Home Depot Inc. (HD) $348.42 -4.47%

Walt Disney Co. (DIS) $96.51 -2.28%

3M Co. (MMM) $146.92 -2.21%

Apple Inc. (AAPL) $212.74 -1.95%

International Business Machines Corporation (CDI) (IBM) $244.96 -1.87%

Goldman Sachs Group Inc. (GS) $525.75 -1.86%

Nike Inc. (NKE) $72.33 -1.69%

American Express Co. (AXP) $256.85 -1.50%

Cisco Systems Inc. (CSCO) $59.69 -1.27%

S&P 500 - Risers

Intel Corp. (INTC) $23.72 14.68%

Dollar Tree Inc (DLTR) $65.67 6.06%

Newmont Corporation (NEM) $46.02 5.48%

Dollar General Corp (DG) $78.57 4.97%

Freeport-McMoRan Inc (FCX) $38.18 3.81%

AES Corp. (AES) $12.26 3.59%

Fidelity National Information Services Inc. (FIS) $70.17 3.01%

Kroger Co. (KR) $66.62 2.51%

Southwest Airlines Co. (LUV) $30.80 2.33%

Verizon Communications Inc. (VZ) $43.52 2.18%

S&P 500 - Fallers

Adobe Systems Inc. (ADBE) $381.90 -12.93%

CenturyLink Inc. (LUMN) $4.68 -5.92%

Salesforce.Com Inc. (CRM) $271.34 -4.65%

Home Depot Inc. (HD) $348.42 -4.47%

CBRE Group Inc (CBRE) $121.80 -4.28%

Carmax Inc. (KMX) $69.51 -4.18%

Meta Platforms Inc. (META) $595.04 -3.96%

Vornado Realty Trust (VNO) $35.92 -3.89%

Darden Restaurants Inc. (DRI) $182.52 -3.84%

Foot Locker Inc. (FL) $15.06 -3.80%

Nasdaq 100 - Risers

Intel Corp. (INTC) $23.72 14.68%

Dollar Tree Inc (DLTR) $65.67 6.06%

Vodafone Group Plc ADS (VOD) $9.49 3.66%

JD.com, Inc. (JD) $41.85 3.65%

Baidu Inc. (BIDU) $95.07 2.89%

T-Mobile Us, Inc. (TMUS) $261.93 2.47%

Liberty Global plc Series C (LBTYK) $12.06 1.81%

Liberty Global plc Series A (LBTYA) $11.55 1.63%

Cadence Design Systems Inc. (CDNS) $241.72 1.05%

Vertex Pharmaceuticals Inc. (VRTX) $500.04 0.93%

Nasdaq 100 - Fallers

Adobe Systems Inc. (ADBE) $381.90 -12.93%

Qvc Group Inc Series A (QVCGA) $0.21 -7.83%

Tesla Inc (TSLA) $235.29 -5.16%

Meta Platforms Inc. (META) $595.04 -3.96%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $317.44 -3.58%

Costco Wholesale Corp. (COST) $894.54 -3.51%

Intuitive Surgical Inc. (ISRG) $480.11 -3.46%

PACCAR Inc. (PCAR) $99.03 -3.22%

Expedia Group Inc. (EXPE) $157.52 -3.08%

Intuit Inc. (INTU) $573.95 -2.91%