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Un mese di Trump: l’Europa batte Wall Street
February 21, 2025By Shashwat Chauhan and Sukriti Gupta
February 21, 202512:16 PM ESTUpdated a min ago
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Market Talk: ‘US exceptionalism is losing a bit of steam’
- Summary
- Companies
- Payments firm Block falls as Q4 profit misses estimates
- UnitedHealth drops after report of DOJ investigation
- Indexes down: Dow 0.77%, S&P 500 0.49%, Nasdaq 0.63%
Feb 21 (Reuters) – Wall Street’s main indexes were set for weekly declines on Friday, as fresh data painted a weak picture for the American economy, while UnitedHealth dropped after a report that the U.S. Justice Department is investigating the healthcare conglomerate.
Data published by S&P Global showed U.S. business activity nearly stalled in February amid mounting fears over tariffs on imports and deep cuts in federal government spending.
“Companies report widespread concerns about the impact of federal government policies, ranging from spending cuts to tariffs and geopolitical developments,” said Chris Williamson, chief business economist at S&P Global Market Intelligence.
Another survey by the University of Michigan showed U.S. consumer sentiment dropped more than expected in February to a 15-month low and inflation expectations rocketed.
“There are signs that the economy might be slowing, and combine that with the fears of the unknown of the tariffs, it’s leading to somewhat of a pullback in the market,” said Peter Cardillo, chief market economist at Spartan Capital Securities.
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Measures consumer sentiment by party identification
The Dow Jones Transport Average (.DJT), opens new tab – often noted as gauge to measure the strength of the economy – slumped 2.4% and was on track for its worst single-day drop this year.
UnitedHealth (UNH.N), opens new tab slid 9% after the Wall Street Journal reported that the U.S. Justice Department has launched an investigation into the company’s Medicare billing practices in recent months.
Shares of other health insurers were also hit, with CVS Health (CVS.N), opens new tab down 2.3% and Humana (HUM.N), opens new tab losing 4.6%.
All three main indexes are set for weekly declines despite the S&P 500 (.SPX), opens new tab hitting record highs twice earlier this week.
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 10, 2024. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights, opens new tab
The blue-chip Dow (.DJI), opens new tab was on pace for its worst weekly slide since early January.
Retail giant Walmart’s (WMT.N), opens new tab dour forecast on Thursday, along with jitters around President Donald Trump’s tariff threats and uncertainty over the Federal Reserve’s interest rate outlook, have pinned equities lower this week.
Earlier this week, Trump said he will announce fresh tariffs over the next month or sooner, adding lumber and forest products to previously announced plans to impose duties on imported cars, semiconductors and pharmaceuticals.
A description of S&P sectors this week
The Personal Consumption Expenditures (PCE) reading, the Fed’s preferred gauge for inflation, would be on the radar next week, along with AI-darling Nvidia’s (NVDA.O), opens new tab quarterly earnings.
At 11:40 a.m. ET, the Dow Jones Industrial Average (.DJI), opens new tab fell 338.56 points, or 0.77%, to 43,838.09, the S&P 500 (.SPX), opens new tab dropped 29.98 points, or 0.49%, to 6,087.54 and the Nasdaq Composite (.IXIC), opens new tab lost 125.47 points, or 0.63%, to 19,836.89.
Eight of the S&P 500’s 11 sectors traded lower, with industrials (.SPLRCI), opens new tab leading declines with a 1.2% fall.
Block (XYZ.N), opens new tab tumbled 15% after the payment firm’s fourth-quarter profit fell short of estimates.
Akamai Technologies (AKAM.O), opens new tab dropped 16.2% as the cybersecurity company forecast annual 2025 revenue below estimates.
Declining issues outnumbered advancers by a 1.57-to-1 ratio on the NYSE and by a 1.79-to-1 ratio on the Nasdaq.
The S&P 500 posted 15 new 52-week highs and seven new lows, while the Nasdaq Composite recorded 63 new highs and 75 new lows.
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Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Maju Samuel
Our Standards: The Thomson Reuters Trust Principles., opens new tab
