NEW YORK, March 7 (Xinhua) -- U.S. stocks closed mixed on Wednesday amid ongoing tariffs debate in the country.
The Dow Jones Industrial Average lost 82.76 points, or 0.33 percent, to 24,801.36. The S&P 500 decreased 1.32 points, or 0.05 percent, to 2,726.80. The Nasdaq Composite Index was up 24.64 points, or 0.33 percent, to 7,396.65.
U.S. equities pared some losses in late trading on Wednesday after the White House hinted Canada and Mexico could be exempt from the tariff plan proposed by U.S. President Donald Trump. Trump is expected to release more details on his tariffs later this week.
The stock market was under pressure in earlier session on Wednesday as Trump's Chief Economic Advisor Gary Cohn resigned from his post.
Cohn, a "globalist" within the White House, has been mounting a last-ditch attempt to head off Trump's new tariff plan on steel and aluminum.
Analysts said Cohn has been seen as a voice of reason in a White House that is seemingly in constant turmoil and he opposed the implementation of tariffs. His departure raised concerns about a potential trade war in the near future.
In the economic front, U.S. private sector employment added 235,000 jobs last month, according to the ADP National Employment Report on Wednesday, beating market expectations.
The report was widely seen as a preview of the U.S. Labor Department's monthly employment report, which is scheduled to release on Friday. Enditem
