Dow Jones Industrial Average finds footing after a pullback from record highs

The Dow Jones stumbled on Tuesday, weighed down by key losses in Amgen.

Equities have broadly shrugged off renewed tariff threats from incoming President Donald Trump.

Key inflation data looms ahead later in the week.

The Dow Jones Industrial Average (DJIA) fell back on Tuesday, shedding over 250 points at its lowest point. Investors shrugged off renewed threats of widespread tariffs on foreign goods from incoming President Donald Trump, but slightly below-expectations results for an experimental diet pill from Amgen (AMGN) dragged the weighted DJIA into the low end for the day. The major equity index has since recovered to flat for the day, with losses concentrated in key overweighted stocks.

President-elect Donald Trump reiterated his threats to enact sweeping tariffs on all imported goods into the US early Tuesday. Set to return to the White House in January, former President Trump issued a warning on social media that he intends to impose a 25% tariff on all goods coming from Canada and Mexico, with an additional 10% levy aimed at Chinese goods specifically. Investors broadly shrugged off the threat, believing that President Trump will ultimately back down from his plan to impose an import tax across the entire US economy. To investors’ credit, President Trump has walked back his extreme stance on arbitrary tariffs somewhat; the Republican candidate’s initial tariff proposals delivered on the campaign trail included import fees upwards of 65% on all Chinese goods that cross the US border.