Stocks are drifting in mixed trading on Wall Street Thursday after President Donald Trump's latest tariffs took effect on dozens of countries.

The S &P 500 edged down by 0.1% after climbing earlier in the day to the edge of its record, which was set late last month. The Dow Jones Industrial Average was down 330 points, or 0.7%, as of 11:45 a.m. Eastern time, and the Nasdaq composite was 0.4% 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 to offset the concerns, at least for now. Lower interest rates can give the economy and i

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