Late Rally Erases Early Stock Slide

Investors remain focused on Trump's threat of tariffs
By Newser Editors and Wire Services
Posted Mar 2, 2018 3:23 PM CST
Trader William McInerney works on the floor of the New York Stock Exchange, Friday, March 2, 2018.   (AP Photo/Richard Drew)

(Newser) – A late burst of buying Friday erased a sharp drop stocks suffered early in the day, the AP reports. Bond yields and the price of gold rose, both signs that investors expect inflation might tick up. Investors remain focused on President Trump's threat to impose tariffs on steel and aluminum imports. A trade war could lead to inflation and weaker profits for US exporters and companies that are big users of steel and aluminum. Caterpillar fell 2.6%. Small-company stocks rose.

The Standard & Poor's 500 index rose 13 points, or 0.5%, to 2,691. The Nasdaq rose 77 points, or 1.1%, to 7,257. The Dow Jones industrial average came mostly back from a 390-point loss and ended down 70 points, or 0.3%, at 24,538.

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