New York Stock Exchange Starts Mixed as Tariff Trends Are Watched

Copper Prices Hit All-Time High on Tariff Reports

NVIDIA and Tesla Both Decline

With a week left before Trump's reciprocal tariffs, the U.S. stock market is showing mixed trends on the 26th (local time).

At 10 a.m. Eastern Standard Time, the S&P 500 fell 0.2% from the previous day. The Nasdaq Composite dropped 1%. The Dow Jones Industrial Average rose 0.4%.

The 10-year Treasury yield rose 3 basis points to reach 4.34%. The dollar increased by 0.2%.

Bitcoin traded down 0.3% at $87,630.43. Ether fell 0.5% to $2,055.14.

Reports that the Trump administration will impose a 25% tariff on copper earlier than planned, in addition to steel and aluminum, led copper prices to hit an all-time high on the COMEX market. Copper mining companies Freeport-McMoRan and Southern Copper Corporation fell.

Tesla is trading down 2.9% at $280, and NVIDIA is down 3.5% at $116. Meme stock GameStop surged 14% after announcing that its board decided to add Bitcoin as an asset.

In February, factory durable goods orders increased as steel and aluminum were ordered ahead of tariff imposition, while core capital goods orders, interpreted as an investment indicator, decreased.

Arthur Hogan of B. Riley Wells said, "Tariffs will continue to be a focus in the stock market, and the market is looking for updates on the reciprocal tariffs on April 2."

President Trump said in an interview with Newsmax the previous day that the tariffs are likely to be "more generous than reciprocal." This stance, along with earlier comments that the tariff range could be narrower and sector-specific tariffs could be delayed, is somewhat alleviating market concerns about tariffs. As a result, the shock from the previous day's March consumer confidence data, which showed the future outlook for U.S. consumers' income, business, and employment at its lowest in 12 years, was somewhat mitigated, leading to a rise in the stock market the previous day.

Guest reporter Kim Jung-ah kja@hankyung.com