US Stocks Slip Ahead of Powell's Key Testimony

U.S. stocks opened lower on Tuesday as investors awaited Federal Reserve Chair Jerome Powell's testimony regarding interest rates and the implications of new tariffs imposed by President Trump. The Dow Jones fell by 69 points, while the S&P 500 and Nasdaq experienced similar declines, reflecting a risk-off sentiment in the market. Futures for major indices also dipped, with traders concerned about the potential impact of Trump's 25% tariffs on steel and aluminum imports. Analysts anticipate that Powell will provide insights on the Fed's monetary policy amid the uncertainty surrounding these trade measures. Additionally, inflation data set to be released Wednesday is expected to further influence market dynamics. Overall, the combination of tariffs and Powell's upcoming comments is creating a cautious atmosphere in the financial markets.