Following the worst quarterly performance for U.S. stocks in over two years, caution dominated Wall Street as investors awaited details on the tariff plans expected from the Trump administration on Wednesday.
On Tuesday, a Washington Post report suggested the administration is considering a sweeping 20% tariff on most of the $3 trillion in annual imports.
Survey data showed that goods-producing businesses had been front-loading purchases ahead of the expected tariffs by the end of first quarter, with inventory levels rising and input cost pressures hitting a three-year high.
Major indexes showed little movement by midday in New York, with the S&P 500 and Nasdaq 100 posting modest gains.
Notably, Tesla Inc. (NASDAQ:TSLA), Rivian Automotive Inc. (NASDAQ:RIVN), and Lucid Group Inc. (NASDAQ:LCID) each …