Stocks Reverse Gains as Consumer Confidence Slips; Cocoa Hits Record High
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US stocks reversed gains late Tuesday, with the Nasdaq closing down 0.4% after earlier reaching record highs. The Dow dropped 0.1% and S&P dipped 0.3%.
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Consumer confidence declined in March, with the Expectations Index signaling a potential recession ahead. Home prices rose at the fastest annual rate since 2022.
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Shares of Trump's Truth Social platform surged over 40% in its trading debut Tuesday after merging with a SPAC last week.
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Cocoa futures hit an all-time high above $10,000 a metric ton amid supply deficits, pressuring chocolate makers' profits.
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Under Armour shares have dropped 14% since Kevin Plank returned as CEO, sparking uncertainty and executive departures expected ahead.