Trumps auto tariffs hit stock market as GM, Ford fall while Tesla rises – National [Video]

Wall Street is getting pulled in different directions Thursday as President Donald Trump’s latest tariff escalation creates winners and losers among auto stocks, while better-than-expected data on the economy helps support the market.

The S&P 500 was 0.3 per cent higher in midday trading after erasing a loss of 0.7 per cent from the morning. The Dow Jones Industrial Average was down 6 points, or less than 0.1 per cent, as of 11:25 a.m. Eastern time, and the Nasdaq composite was 0.3 per cent higher.

General Motors sank 6.8 per cent for one of the market’s sharper losses after Trump announced 25 per cent tariffs on imported cars. Ford Motor dropped 2.2 per cent.

Even U.S. automakers selling vehicles in the country can feel the pain of such tariffs because their supply chains are spread throughout North America. Trump says he wants more manufacturing to take place within the United …