Market Jitters: Wall Street Wobbles Amid Tariff Turmoil

Wall Street's main indexes experienced a decline due to uncertainties surrounding President Trump's upcoming tariffs. Mega-cap stocks suffered as investors anticipated potential exemptions and relief. Despite some stability in recent sessions, growth stocks dragged the market, and a revised S&P 500 target by Barclays reflected ongoing caution.

Wall Street saw a decline in major stock indexes on Wednesday, as megacap stocks suffered due to uncertainty about forthcoming tariffs from the Trump administration. Reports suggest President Trump is preparing to announce auto levies soon, leading to a fall in auto stock values.

This uncertainty has kept investors wary, although hints at potential tariff exemptions have brought some stability. Indexes hit two-week highs, with the S&P 500 climbing over 4% since mid-March, and the Nasdaq surging by approximately 6%.

Despite this, fluctuating White House positions on tariffs have left the market tentative. Growth stocks were notably impacted, with the S&P 500 posting several highs and lows amid declines in optimism among top business executives.

(With inputs from agencies.)