Stock Market Update

[BRIEFING.COM] The stock market is struggling under ongoing selling pressure. The S&P 500 sports a 0.8% decline and the Nasdaq Composite trades 1.3% lower.

The market didn't react much to this morning's release of the February Producer Price Index, which inflation moving in the right direction. The muted response is due to the understanding that inflation still remains too high and that US trade policy may negatively impact future inflation prints. 

On the tariff front, President Trump has threatened a 200% tariff on EU wines and champagne in response to retaliatory measures. 

There are some signs of buying in the market, leading the Invesco S&P 500 Equal Weight ETF (RSP) to trade 0.1% higher. The S&P 500 materials (+0.8%), energy (+0.4%), utilities (+0.4%), and financials (+0.3%) sectors are benefitting from buying interest.