Stock rally falters, Dow slides over 300 points as tariff concerns weigh

FOX Business Team 

The stock rally, driven by optimism of progress on tariff deals with U.S. trading partners, lost steam on Tuesday afternoon, with the three major indexes all closing in the red.

The Dow Jones Industrial Average fell more than 300 points, easing from the 1,400 point jump at the opening bell. The S&P 500 and Nasdaq Composite were down 1.5% and 2.1%, respectively.

Stocks were higher earlier in the trading session after President Donald Trump said that he held a call with South Korea, discussing tariffs and other trade-related topics.

"I just had a great call with the Acting President of South Korea," Trump said in a post on Truth Social. "We talked about their tremendous and unsustainable Surplus, Tariffs, Shipbuilding, large scale purchase of U.S. LNG, their joint venture in an Alaska Pipeline, and payment for the big time Military Protection we provide to South Korea."

Is Newsom Nervous? DOJ Promises Arrests for Homeless Fraud

Katie Pavlich / Townhall Tipsheet

 

The Department of Justice has launched a new criminal task force to investigate "fraud and corruption involving homelessness funds" in California. 

Since 2020, the California government spent $24 billion on "the homeless" and yet, the rate of homelessness has only increased with additional funding. 

"Officials have been unable to account for all the expenditures and outcomes, and the homeless crisis has only gotten worse. Taxpayers deserve answers for where and how their hard-earned money has been spent. If state and local officials cannot provide proper oversight and accountability, we will do it for them. If we discover any federal laws were violated, we will make arrests,"  United States Attorney Bill Essayli released in a statement.

RIGHT SIDE PATRIOTS...Podcast

Here's the podcast of last nights LIVE broadcast where Craig & Diane discussed 'Political Musings 2028'; 'A Vacuum of Credibility'; Trump and Netanyahu's joint press conference held at the White House; SCOTUS sides with Trump on deportations; and Pentagon considering cutting thousands of troops from Europe. Listen to it on https://rspradio1.podbean.com or on our RSP website at https://rspradio1.com - go to podcasts.