Fed policy and growth
Goolsbee discussed inflation expectations and possible tariff effects. The March U.S. Leading Index missed estimates, while Trump renewed pressure for immediate rate cuts after the close.
Apr 21, 2025 · QQQ/SPY Market Review · 12 headlines
QQQ falls 2.03% in a broad decline as Fed and tariff risks persist
QQQ fell 2.03% and SPY lost 1.97%, leaving SPY ahead by 0.06 percentage points. Fed policy pressure and softer leading data framed the macro backdrop. Tariff developments and reports involving Huawei, Amazon and Google added technology and trade context.
Published
- QQQ
- -2.03%
- SPY
- -1.97%
- QQQ − SPY
- -0.06%
What shaped the session
Tariffs and supply chains
Trump planned meetings with major retailers, Toyota considered Kentucky RAV4 assembly, and the U.S. announced solar tariffs of up to 3,521% on four Southeast Asian countries.
AI and tech spending
Huawei prepared a new AI chip for mass shipment, Amazon reportedly paused some data-center leases, and the Justice Department pressed its Google search remedy into the AI era.
Key news
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