Markets Stay Bleak on More Tariff Warnings

Market Overview - Major indexes experienced a significant decline, with the Dow down -4% over the past five trading days, shedding -537 points (-1.3%) today, the S&P 500 down -77 points (-1.4%), the Nasdaq down -345 points (-2%), and the Russell 2000 down -32 points (-1.6%) [1] - The first full month of the second Trump administration has been challenging for the markets, with the Dow down -8.7%, the S&P 500 down -9.7%, the Nasdaq down -13.3%, and the Russell 2000 down -12.6% [2] Tariff Impact - President Trump's announcement of potential +200% tariffs on alcoholic beverages from the EU triggered a market decline, with the Dow reaching session lows down -600 points before a brief recovery [3] Gold Market - Gold futures rose +1.7%, nearing $3000 per ounce, indicating its role as a hedge against the declining stock market. Gold mining stocks Anglogold (AU) and DRDGOLD (DRD) saw increases of +2.5% and +2% respectively [4] Company Earnings Reports - DocuSign (DOCU) reported Q4 earnings of 86 cents per share, beating estimates by 2 cents, with revenues of $776.3 million surpassing the $760 million estimate, marking an 8% year-over-year revenue growth [5] - Ulta Beauty (ULTA) exceeded earnings expectations with $8.46 per share compared to the forecast of $7.10, and revenues of $3.49 billion. However, comparable sales increased only +1.5%, and the full-year earnings guidance was lowered [6]