US Stock Market Narrows Gains on Consumer Confidence Decline

Consumer Confidence Hits 4-Year Low Amid Trade War

Tesla, Nvidia Also Decline

The US stock market, which started with attempts to rise for two consecutive days, once again narrowed its gains on the 25th (local time) as uncertainties related to tariffs emerged and the consumer confidence index declined.

As of 10:20 a.m. local time, the S&P 500 rose 0.2%, and the Nasdaq Composite rose 0.3%. The Dow Jones Industrial Average is fluctuating at a level similar to the previous day.

The 10-year Treasury yield fell by 1 basis point (1bp=0.01%) to 4.32%. The Bloomberg Dollar Index fell 0.2% against major currencies.

Bitcoin recorded a 0.4% decline to $87,508.92 in the US market. Ether fell 1.2% to trade at $2,059.83.

Spot gold rose 0.7% to trade at $3,031.07 per ounce.

The Conference Board's March consumer confidence index recorded a four-year low of 92.9.

Wall Street is uneasy about the possibility of inflation rising and economic growth slowing due to President Trump's reciprocal tariffs on April 2. Trump added to the confusion by stating the day before that "reciprocal tariffs could exempt many countries," but tariffs on specific sectors such as automobiles and pharmaceuticals would be imposed in the 'near future.'

A strategist at Bespoke Investment Group said, "Investors will focus most on changes in consumer sentiment amid all the uncertainties surrounding geopolitics, the economy, and tariff policies."

The chief strategist at UBS Investment Bank mentioned that "noticeably fatigued" US consumers will put more pressure on the US stock market.

Guest reporter Kim Jung-ah kja@hankyung.com