S mall caps and blue chips lagged a generally down market Friday as the Russell 2000 and Dow Jones Industrial Average were responsible for most of the selling. Meanwhile the Nasdaq and S&P 500 tried to limit losses as Nvidia NVDA and Palantir PLTR continued to attract buyers on the stock market today.

To Donald Trump, the rallying stock market is evidence that Wall Street likes tariffs. But investors say they’re just counting on the US president to back down.