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Advanced Micro Devices down after brokerage downgrade

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Weekly jobless claims at 224,000

(Updates to close)

By Noel Randewich

March 27 (Reuters) -

The S&P 500 ended lower on Thursday, as investors grappled

with U.S. President Donald Trump's latest trade tariff

announcement that hit shares of General Motors ( GM ) and Ford.

Trump unveiled on Wednesday his plan to implement a 25% tariff

on imported cars and light trucks effective on April 3, while

the duty on auto parts begins on May 3. Investors are also

bracing for a wave of reciprocal tariffs Trump plans to unveil

on Wednesday, although the president has hinted there may be

room for flexibility.

General Motors ( GM ) and Ford both fell. Car parts

manufacturers Aptiv and BorgWarner ( BWA ) also

declined.

Tesla rose, with investors betting the electric vehicle

maker will be hurt less by tariffs because of its largely

domestic production.

Trump's mercurial trade policies have created uncertainty on

Wall Street, as investors fret over potential disruptions to

supply chains, hampered investment, and the specter of inflation

threatening global economic growth.

"Investors are really cautious and wary of Trump and his

policies. Even more than the policies, just the constant

flip-flopping," said Jed Ellerbroek, a portfolio manager at

Argent Capital in St. Louis, Missouri. "That makes people really

nervous to make long-term investment decisions, whether we're

talking about companies or about investors."

According to preliminary data, the S&P 500 lost 19.46

points, or 0.34%, to end at 5,692.74 points, while the Nasdaq

Composite lost 96.49 points, or 0.54%, to 17,802.53. The

Dow Jones Industrial Average fell 160.78 points, or

0.38%, to 42,294.01.

The number of Americans filing new applications for unemployment

benefits slipped last week, while the jobless rate appeared to

have held steady in March.

Also on Thursday, the headline figure for fourth-quarter

gross domestic product growth was revised to 2.4%, higher than

the consensus estimate of 2.3% in a Reuters poll.

Shares of Dollar Tree ( DLTR ) jumped as several analysts raised

their price targets after the discount retailer on Wednesday

said it sold its struggling Family Dollar business for about $1

billion.

Investors on Friday will focus on the February personal

consumption expenditures price index - the Federal Reserve's

favored inflation gauge.

Traders have trimmed their exposure to U.S. equities, with

the S&P 500 down about 7% from its record high close on February

19. The Nasdaq remains down about 11% from its record high close

on December 16.

The S&P 500 and Nasdaq are both on course to conclude the

first quarter of 2025 in negative territory. The S&P 500 is

poised for its first quarterly decline in six quarters.

Fed policymakers Susan Collins and Thomas Barkin are

expected to share their economic insights later on Thursday.