03:54 PM EDT, 03/13/2025 (MT Newswires) -- US benchmark equity indexes are on track to close lower Thursday after President Trump vowed to impose a 200% duty on European Union alcohol exports in retaliation for a tariff placed on US whiskey.

The Dow Jones Industrial Average fell 1.4% to 40,765.7, while the Nasdaq Composite declined 2.1% to 17,280.7. The S&P 500 was down 1.5% to 5,512. All sectors declined while consumer discretionary and communication were the worst performers.

Intel ( INTC ) was the top gainer on the S&P 500 with shares up nearly 15%. The chipmaker appointed semiconductor industry veteran Lip-Bu Tan as chief executive late Wednesday, effective March 18.

Dollar General's ( DG ) shares were up 4.1%. The company's fiscal fourth-quarter earnings fell more than Wall Street's expectations Thursday, but sales topped estimates.

Adobe (ADBE) was the worst performer on the S&P 500 with shares declining 14%. The software maker's fiscal first-quarter results showed "weakness" in net-new digital media annualized recurring revenue, smaller beat magnitudes, and a soft quarterly outlook, Oppenheimer said.

The 10-year US Treasury yield lost 4.7 basis points to 4.3%, while the two-year rate was down 4 basis points to 4%.

April West Texas Intermediate crude oil was down 1.5% at $66.63 a barrel.