NEW YORK (AP) — Stocks are drifting on Wall Street Thursday after President Donald Trump’s latest tariffs took effect on dozens of countries.

The S&P 500 added 0.2% after climbing earlier to within a whisper of its record, which was set late last month. The Dow Jones Industrial Average was down 147 points, or 0.3%, as of 10:45 a.m. Eastern time, and the Nasdaq composite was 0.7% higher.

Worries are still high that Trump’s tariffs are damaging the economy , particularly after last week’s worse-than-expected report on the job market . But hopes for coming cuts to interest rates by the Federal Reserve and a torrent of stronger-than-expected profit reports from big U.S. companies are helping offset the concerns, at least for now. Lower interest rates can give the economy and invest

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