Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.2%) hovers just below its flat line with seven sectors showing losses, led by industrials (-0.7%) and the consumer discretionary sector (-0.7%).

Automakers are among the worst performers in the discretionary sector, since they will face higher costs of acquiring steel needed for production after Wednesday's implementation of an increased tariff on these imports. General Motors (GM 47.32, -2.29, -4.6%) is the worst performer while Ford (F 9.92, -0.46, -4.4%) and Tesla (TSLA 336.55, -9.91, -2.9%) hold slimmer losses.

As for industrials, transport stocks are contributing to the weakness with the Dow Jones Transportation Average (-1.1%) widening its 2025 loss to 8.6% while the S&P 500 is currently up 0.2% for the year.