CNBC Business News Update - Market Close: Stocks Lower, Investors Wait For Details On Auto Tariffs, Kohl's Closing 27 Stores This Weekend 3/26/25

Episode Date: March 26, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jessica Ettinger.

I'm Jessica Edinger, CNBC Wall Street with a sell-off for stocks, investors digesting the Trump tariff agenda and waiting for the latest read on U.S. economic growth, which comes Thursday morning with GDP. On Wednesday, the Dow was down 132 points, led lower by shares of Nvidia, which were down almost 6 percent. The S&P 500 index down 64 points, that was 1%. The NASDAQ plunging 372 points, that was more than 2%. So we were due for something and then we got a tariff headline on top of that.

Right, so the overarching premise is that most corrections involve some kind of a retest, doesn't mean you go back to the exact lobe. It also shows you though the complexity of the things we're dealing with, right? You have the ongoing draining of enthusiasm that's been going on and then obviously the tariffs themselves. CNBC's Mike Santoli and Scott Wapner. Investors surprised to learn that President Trump decided to announce auto tariffs Wednesday afternoon. We'll have details on this announcement as soon as they're available. Ahead of the tariffs to be announced next week, the president said they'll probably be more lenient than reciprocal. I mean, we're at this moment where the president's playing rope-a-dope and you hear that it's

going to be good and there may be some exceptions, then you hear there are no exceptions. Anything to keep us off guard while we wait. And I just find that that is something that the stock market doesn't want. It is every day best to not think about it, best to focus on companies, because you can't fathom what the president's going to do. Mad Money host Jim Cramer on CNBC.

Copper is on pace for its best first quarter start to the year since 2009, but higher copper prices hit the home building industry among others. Gold is pacing for its best first quarter start since 2016. Kohl's is closing 27 stores this Saturday including 10 in California with the underperforming locations listed on the Kohl's website. USA Today says the struggling chain will have more than a thousand stores left operating in the U.S. On tomorrow's watch list it's all about GDP, gross domestic product, a measure of economic growth. We're gonna find out how many people applied for unemployment benefits last week. We get

the latest pending home sales numbers. 100% of Social Security overpayments will start to be clawed back from recipients, and Major League Baseball has its traditional opening day. It's also the Sweet 16 in the Men's NCAA College Basketball Tournament. Jessica Edinger, CNBC. June 5th, CNBC's Fast Money Live, an exclusive in-person experience at the iconic NASDAQ Market site in New York City.

Get your tickets now at cnbcevents.com slash fast money.