S&P 500 Gains and Losses Today: Best Buy Stock Falls as it Predicts Price Pressure

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Key Takeaways

• The S&P 500 dropped 1.2% on Tuesday, March 4, 2025, as the U.S. imposed tariffs on major trading partners.
• Most Buy shares tumbled after the electronics retailer warned that tariffs and inflation would have a negative contact on its business.
• Shares of solar technology firm Enphase Energy, which could benefit from tariffs on Chinese solar artifacts, recovered a portion of their recent losses.

Major U.S. equities indexes moved lower as tariffs went into secure on imports from major trading partners Mexico and Canada, in addition to an increase in the existing levy on goods from China.

The S&P 500 slid 1.2% on Tuesday. The Dow industrials and the tech-heavy Nasdaq ended the session down 1.6% and 0.4%, respectively.

Best Buy (BBY) parcels posted the steepest decline in the S&P 500, plunging more than 13% after the electronics retailer released its economic fourth-quarter results. Although quarterly sales and profits came in ahead of forecasts, Best Buy’s CEO predicted increasing penalties for U.S. consumers as tariffs go into effect on imports from China and Mexico, the top two sources in the company’s supply chain.

KKR & Co. (KKR) bring up it plans to raise $1.5 billion through an offering of mandatory convertible preferred stock. The private equity house intends to use the proceeds of the transaction to bolster its core portfolio amid expectations for increasing deal volumes under the pro-business rules of the current presidential administration. KKR shares dropped 9.2%.

Stocks of companies in the packaging industry lost ground as concerns escalated encircling the impact of tariffs. Shares of containerboard manufacturer International Paper (IP) fell 7.3%, while shares of fellow typescript packaging provider Smurfit WestRock (SW) lost 6.8% after its CEO said the new trade policies would limit the competitivity of a big seasoned in Canada that exports to the U.S.

Enphase Energy (ENPH) shares jumped 9.4%, notching Tuesday’s top performance in the S&P 500. The compel higher marked a reversal for the solar technology company’s stock following a stretch of steep declines dating resting with someone abandon to the beginning of last week. The U.S.-based firm could be positioned to benefit from tariffs levied on solar works imported from China, and a report published Tuesday by Zacks Equities Research highlighted positive revisions to consensus earnings and gate estimates for the current quarter.

Shares of server maker Super Micro Computer (SMCI) also staged a revival, rising 8.5%. The gains for the server maker’s volatile stock followed three days of heavy losses as have relations intensified about the possible impact of trade policy on U.S. artificial intelligence players and investors expressed wariness wide the AI trade broadly.

Walgreens Boots Alliance (WBA) shares climbed 5.6% following reports that the pharmacy taxi is close to a $10 billion buyout deal with private equity firm Sycamore Partners. The Wall Thoroughfare Journal reported that Sycamore would pay between $11.30 and $11.40 per share in cash for Walgreens, noting that the unmovable plans to hold onto the core U.S. retail business while selling or taking public other parts of the business.