Crocs Stock Flops 29.2% as Trump Tariffs Kick In

US stocks drifted to a mixed finish Thursday as President Trump's tariffs on dozens of countries had only a muted effect on markets worldwide.

• The S&P 500 fell 5.06 points, or 0.1%, to 6,340.
• The Dow Jones Industrial Average fell 224.48 points, or 0.5%, to 43,968.64.
• The Nasdaq composite rose 73.27 points, or 0.3%, to 21,242.70.

Worries are high that Trump's tariffs are damaging the economy, particularly after last week's worse-than-expected report on the job market, the AP reports. But hopes for coming cuts to interest rates by the Federal Reserve and a torrent of stronger-than-expected profit reports from big US companies are helping to offset the concerns, at least for now.

On Wall Street, worries about tariffs helped drag down the stock of Crocs. The footwear maker tumbled 29.2% even though it reported a stronger profit for the latest quarter than analysts expected. It said it expects revenue to fall up to 11% in the current quarter from a year earlier, while tariffs are dragging on its profitability. The company cited "continued uncertainty from evolving global trade policy and related pressures around the consumer." Eli Lilly dropped 14.1% even though the drugmaker likewise reported a stronger profit for the latest quarter than analysts expected. Analysts said some investors were disappointed with results that Lilly provided for a late-stage study of its potential pill version of the popular weight-loss drug Zepbound.

• Intel sank 3.1% after Trump called for its CEO to resign, while accusing him of being "highly CONFLICTED," though he gave no evidence.
• Apple helped keep the market's losses in check, as it rose on hopes that its massive size can help it navigate Trump's economy. Its stock climbed 3.2% after CEO Tim Cook joined Trump at the White House on Wednesday to say it's increasing its investment in US manufacturing by $100 billion over the next four years.
• DoorDash added 5% after the delivery app topped Wall Street's profit expectations for the latest quarter. It attracted new customers and saw the total number of orders increase.
• Duolingo, the language-learning app, jumped 13.8% after it crushed Wall Street's expectations. The company said its subscription revenue grew 46% over the same period last year.