Wall Street ends down sharply on tariff worries

The S&P 500 declined 1.12% to end the session at 5,712.20 points. The Nasdaq declined 2.04% to 17,899.02 points, while the Dow declined 0.31% to 42,454.79 points.

NEW YORK: Wall Street stocks ended sharply lower on Wednesday, dragged down by losses in Nvidia and Tesla as investors awaited information about long-promised US tariffs on automotive imports.

US President Donald Trump was set to announce plans for car-industry tariffs at a press conference on Wednesday, widening the global trade war he kicked off this year. Auto industry experts expect the move to drive up prices and stymie production. For weeks, Trump has promised to announce a swath of reciprocal tariffs on April 2.