Donald Trump, the U.S. president, did not issue additional tariff measures or statements, leading the market to take a breather.
On the 15th (local time), the Dow Jones Industrial Average closed at 40,368.96, down 155.83 points (0.38%) from the previous session at the New York Stock Exchange. The Standard and Poor's (S&P) 500 index fell 9.34 points (0.17%) to 5,396.63, while the technology-heavy Nasdaq index dropped 8.32 points (0.05%) to 16,823.17.
On this day, Trump did not make any separate tariff measures or statements. However, the White House urged China to come to the negotiation table.
Caroline Levitt, White House spokesperson, noted, "The ball is in China's court," adding that "while the United States does not need to negotiate with China, the China that desires American consumers must negotiate with the United States."
However, there are observations that if the current atmosphere continues, Trump may become anxious.
The Financial Times (FT) noted that Xi Jinping holds more powerful cards than Trump, suggesting Trump may become anxious. The New York Times (NYT) pointed out, "The six types of rare earths that China has entered into export control measures are essentially refined only in China," emphasizing that "China reminded the United States of its dependence on Chinese defense capabilities."
Bank stocks, which posted strong performances in the first quarter, showed good momentum. The tariff uncertainty triggered by Trump led to increased volatility, resulting in a surge in revenues from stock transactions, which in turn drove stock prices higher. Bank of America (BofA) shares rose by over 3%, and Citigroup's shares increased by more than 2%.
However, the sector showed mixed trends. There were no sectors with fluctuations over 1%, and discretionary goods dropped nearly 1%.
Johnson & Johnson reported a strong performance in the first quarter and raised its annual revenue guidance, but its stock price showed little change.
Netflix shares jumped more than 5% after executives expressed optimistic expectations regarding business expansion. The Netflix executives stated, "We aim to double our revenue and achieve a market capitalization of $1 trillion by 2030."
Boeing, the world's largest aircraft manufacturer, saw its stock price fall more than 2% due to the impact of retaliatory measures taken by the Chinese government against the U.S.
Brenda Vingelro, chief investment officer at Sand Hill Global Advisors, said, "The term 'uncertainty' is frequently mentioned regarding future prospects," adding, "Even after the earnings announcement period ends, it seems that obtaining clear answers regarding tariffs will be challenging."