Investors remain worried that the US economy could slide into recession if Trump's new levies exacerbate sticky inflation and slowing economic growth. The third estimate of fourth quarter gross domestic product (GDP) released Thursday morning showed the US economy grew at an annualized rate of 2.

The move of imposing tariffs on auto imports overshadowed data showing the economy expanded at a quicker pace in the fourth quarter than previously estimated. A measure of inflation was revised lower.

Wall Street edged lower after getting pulled in opposite directions as President Donald Trump’s latest tariff escalation creates winners and losers among auto stocks.