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DJIA Closes Down 389 pts as Trade Talks Stall; Tesla Sinks 2% on Weak Sales in UK, Germany
07 May 2025 04:04
US President Donald Trump and Canadian Prime Minister Mark Carney walked back their pledge of an imminent trade deal during their meeting. US Treasury Secretary Scott Bessent, however, said a partial trade agreement could be announced as early as this week. Meanwhile, investors are waiting for the Fed's policy decision. US stocks retreated on Tuesday.

The S&P 500 closed down 43 points or 0.8% at 5,606. The DJIA dropped 389 points or 1% to close at 40,829. The Nasdaq slipped 154 points or 0.9%, closing at 17,689.

Tesla (TSLA.US)'s new car sales in the UK and Germany sank to their lowest level in over two years in April. Its stock price closed down 1.8%. With the consensus being that the central bank will announce no change to interest rates on Wednesday, Meta (META.US) dipped 2%, while Nvidia (NVDA.US) also edged down. Goldman Sachs (GS.US) maintained a nearly 2% loss throughout the day, weighing down the DJIA.
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