U.S. Stocks Mixed as UnitedHealth Drags Dow Lower
U.S. stocks finished Thursday wiht mixed results. The Dow Jones Industrial Average dropped 1.2%, mainly due to UnitedHealth’s 23% plunge.The company lowered its full-year profit forecast, causing the decline. Meanwhile, the S&P 500 gained 0.2%, and the Nasdaq Composite fell slightly by 0.13%. Nvidia also took a hit,falling for the second day after new U.S. restrictions on chip sales to China.
Investors are watching trade tensions and Federal Reserve signals. Fed Chair Jerome Powell warned that higher tariffs could slow growth and boost inflation. He suggested the Fed would wait for clearer trade policy before cutting interest rates. This dampened hopes for immediate rate cuts.
President Trump criticized Powell, hinting at his possible replacement. Reports say Trump spoke with former Fed governor Kevin Warsh as a potential successor.this added to market uncertainty.
Elsewhere, chipmaker TSMC reported a 60% surge in Q1 net profit, driven by AI chip demand. The market awaits Netflix’s earnings, seen as a tech bright spot.
Yields on the 10-year treasury rose to 4.325%, and the U.S. dollar ticked up modestly. Stock and bond markets will be closed Friday for Good Friday.
Bitcoin (BTC) briefly traded above $85,000 but settled around $84,600.
