U.S. stocks experienced a sharp decline as reports indicated that economic worries linked to President Trump's policies are influencing business sentiments. The S&P 500, Dow Jones, and Nasdaq composite fell significantly, with the S&P recording its worst day in two months. A notable report indicated U.S. business activity is nearing a standstill, showing growth at a 17-month low, primarily due to slumping optimism amidst concerns over tariffs and other government policies. Additionally, weak consumer sentiment and disappointing home sales contributed to the bearish market trend, amplifying investor anxiety and leading to falling Treasury yields.
Companies report widespread concerns about the impact of federal government policies, ranging from spending cuts to tariffs and geopolitical developments. Sales are reportedly being hit by the uncertainty caused by the changing political landscape.
One suggested U.S. business activity is close to stalling, with growth slowing to a 17-month low. The preliminary report from S&P Global said activity unexpectedly shrank for U.S. services businesses.
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