All three major indices remain in the red midday Thursday, after trimming earlier losses which saw the Dow Jones down more than 600 points at session lows. The major averages lost more than 2% this week as U.S. tariffs on Canadian, Mexican and Chinese imports took effect and trade partners responded with retaliatory levies on U.S. goods.

Investors awaited clarity on President Donald Trump’s trade policies after Commerce Secretary Howard Lutnick told CNBC the president is likely to allow exemptions for more than just carmakers.

Lutnick also stated that Mexico and Canada might avoid reciprocal tariffs planned for April if they make sufficient progress in curbing the flow of fentanyl into the U.S. Following Lutnick’s remarks, stocks rebounded from their lows during Thursday’s trading session.

Read Next: US Services Sector Unexpectedly Expands In February Despite Slowing Job Growth

WTI crude oil futures continued to slide at multi-year lows as trade policies and OPEC+ production increases weighed on the market. The United States Oil Fund USO, tracking WTI futures contracts, fell 0.81%.

Bitcoin BTC/USD traded above the $90,000 level, up more than 7% for the week, as investors anticipated announcements from Trump’s crypto summit to be held at the White House on Friday.

Thursday’s Performance In Major U.S. Indices, ETFs

Major Indices	Price	1 day % chg.
Nasdaq 100	18,336.60	-1.04%
S&P 500	5,791.25	-0.88%
Dow Jones	42,808.25	-0.46%
Russell 2000	2,093.92	-0.36%

According to Benzinga Pro data:

• The SPDR S&P 500 ETF Trust SPY fell 0.89% to $577.88.
• The SPDR Dow Jones Industrial Average DIA was down 0.49% at $428.32.
• The tech-heavy Invesco QQQ Trust Series QQQ dropped 1.35% to $495.25.
• The iShares Russell 2000 ETF IWM eased 0.62% to $207.17.
• The Consumer Discretionary Select Sector SPDR Fund XLY slid 1.31% to $208.65.
• The Energy Select Sector SPDR Fund XLE rebounded 0.14% to $85.83. 

Thursday's Stock Movers 

Marvell Technology, Inc. MRVL shares dropped Thursday after the chipmaker issued mixed first-quarter guidance, dragging other chip-related stocks like NVIDIA Corp. NVDA and Broadcom Inc. AVGO lower as well.

Stocks reacting to company earnings reports included: 

• Grindr Inc.  GRND
• LendingTree, Inc. TREE
• MongoDB, Inc. MDB
• Rigetti Computing, Inc. RGTI
• Marvell Technology, Inc. MRVL
• Zscaler, Inc. ZS
• Victorias Secret & Co. VSCO
• JD.com, Inc. JD
• BJ’s Wholesale Club Holdings, Inc. BJ
• Burlington Stores, Inc. BURL
• Macy’s Inc. M

Companies reporting after Thursday's closing bell include: 

• Costco Wholesale Corp. COST
• Hewlett Packard Enterprise Co. HPE
• Funko, Inc. FNKO
• Broadcom Inc. AVGO
• Reliance Global Group, Inc. RELI
• Serve Robotics Inc. SERV

Read Next: 

• Markets Tank After Trump Confirms More Tariffs: Here’s What Wall Street Is Saying

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