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Stock Market Stumbles as Trump Tariff Uncertainty Weighs on ETFs
Stock Market Stumbles as Trump Tariff Uncertainty Weighs on ETFs
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BTCCSquare news:
SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ) closed lower Tuesday as markets digested a federal court ruling challenging presidential tariff authority. The appellate decision—currently stayed until October 14—prompted President TRUMP to announce plans for an expedited Supreme Court appeal, warning of potential "economic disaster" without judicial intervention.
Manufacturing data compounded the bearish sentiment, with August's PMI reading of 48.7 marking six consecutive contractionary months. While new orders showed tentative improvement, supply chain disruptions from existing tariffs continue to pressure corporate planning.
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