Wall Street Sinks as Major Companies Withdraw Forecasts Ahead of Fed Decision

Markets tumbled as several large companies, including Ford and Mattel, pulled their annual guidance ahead of a crucial Federal Reserve policy statement. Tariffs and regulatory shifts contributed to the uncertainty, with Ford expecting a $1.5 billion operating hit and Mattel preparing for up to $270 million in added costs. Their cautious moves underscore corporate America’s mounting unease over trade tensions and the unclear economic outlook. The Fed is not expected to raise rates but investors remain on edge, awaiting signals from Chair Jerome Powell. Meanwhile, the trade deficit rose sharply in March, hinting at ongoing global supply chain disruptions.