New York Stock Exchange Declines Amid Tech Sell-off and Tariff Uncertainty

At the close, the S&P 500 index decreased by 1.04 percent to 6,837.75 points, while the Nasdaq index fell by 1.13 percent to 22,627.27 points.
Tariff Uncertainty and Legal Proceedings Legal developments regarding U.S.
customs tariffs were among the primary factors suppressing investor risk appetite.
The U.S.
Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA), which President Donald Trump relied on for implementing tariffs, does not grant the president such authority.
Following the court's decision, Trump continued to issue new tariff threats against trade partners, pointing to alternative methods such as Section 122 of the Trade Act of 1974.
Analysts noted that this situation has increased uncertainty regarding the global growth and inflation outlook.
Sell-off in AI and Cybersecurity Stocks The announcement of a new programming tool called "Claude Code" by the artificial intelligence startup Anthropic triggered a sharp sell-off in the software and cybersecurity sectors.
Following this development, CrowdStrike shares lost nearly 10 percent, Zscaler fell by over 10 percent, Okta dropped 6.4 percent, and Fortinet declined 5.5 percent.
IBM shares closed the day with a drop exceeding 13 percent, playing a decisive role in the decline of the Dow Jones index.
Macroeconomic Data and Fed Expectations On the economic data front, U.S.
factory orders recorded a decrease of 0.7 percent in December.
Statements from the Federal Reserve (Fed) were also in the spotlight.
Fed Governor Christopher Waller provided a hawkish signal, suggesting that if the improvement in the labor market continues, he might support pausing interest rate cuts at the next meeting.