Wall Street Declines Amid Plummeting Consumer Confidence, Tariff Fears

U.S. stock markets experienced significant declines on Tuesday, driven by a sharp drop in the consumer confidence index, which fell to 98.3, below expectations and marking the lowest level since August. The S&P 500 decreased by 1%, and the Nasdaq Composite plunged nearly 1.85%, with tech stocks like Nvidia and Super Micro leading the losses amid fears of new export restrictions to China. Investor anxiety was compounded by potential new tariffs announced by President Trump, further weighing on market sentiment. Despite the downturn, Home Depot reported strong quarterly sales, boosting its stock by over 3%. Meanwhile, Chegg's shares plummeted nearly 30% after filing a lawsuit against Google over AI-generated search results impacting its traffic. Observers are increasingly concerned that these economic indicators signal a possible recession ahead as consumer demand softens.