[WASHINGTON] US stocks closed lower on Thursday, as a Fed-related rally lost steam, and traders looked ahead to the prospect of additional tariffs next month.
The Dow Jones Industrial Average closed down less than 0.1 per cent at 41,953.32.
The broad-based S&P 500 fell 0.2 per cent to 5,662.89, while the tech-rich Nasdaq Composite Index slipped 0.3 per cent to close at 17,691.63.
“We started off in the red, went solidly into the green, only to go back into the red, then back into the green and now we’re kind of flatlining,” CFRA’s Sam Stovall told AFP, shortly before markets slipped further into the red.
“I think investors are basically going to be treading water until April 2,” he added, referring to the date at which President Donald Trump has said he plans to impose reciprocal tariffs on US trading partners.
Among individual stocks, professional firm Accenture’s shares slumped 6.7 per cent after announcing that the Trump administration’s efficiency drive had begun affecting its business.
The business consulting firm said the cost-cutting drive, led by billionaire Trump ally Elon Musk, had hit its federal services business. AFP
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