Stocks ended broadly lower Thursday, with industrials feeling the pain after the Trump administration announced it would go ahead with tariffs on imports of steel and aluminum from the European Union, Canada and Mexico. The trade partners said they would retaliate.
The Dow Jones Industrial Average ended more than 250 points lower, a decline of 1%, near 24,416, according to preliminary data. The S&P 500 ended 0.7% lower, while the Nasdaq Composite lost 0.3%. May was still positive for equities, with the Dow booking a 1.1% monthly rise, the S&P 500 gaining 2.2% and the Nasdaq Composite advancing 5.3%. The small-cap Russell 2000 left its large-cap index rivals behind, posting a 6.1% monthly rise. The Russell shed around 0.8% on Thursday.