S&P 500 Mixed as Tariffs Bite; Eli Lilly Slumps on Weight-Loss Pill Trial

The S&P 500 edged down 0.1% on Thursday, August 7, 2025, as new reciprocal tariffs imposed by the TRUMP administration took effect, escalating trade tensions with multiple U.S. partners. The Dow fell 0.5%, while the Nasdaq climbed 0.4% to a record close, buoyed by tech resilience.

Eli Lilly shares cratered 14.1% after disappointing trial results for its experimental weight-loss pill. The setback highlights the volatility in pharmaceutical breakthroughs, even as the broader healthcare sector saw gains. Insulet, Beckton Dickinson, and Zimmer Biomet rallied on strong earnings, showcasing divergence within medtech.

Fortinet led S&P 500 decliners, plunging 22% despite beating earnings estimates. The cybersecurity firm's stagnant guidance triggered analyst downgrades, underscoring how growth expectations dictate market reactions more than backward-looking results.