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(Bloomberg) -- It was an unexpected, if improbable relief. The panic unleashed by Donald Trump’s trade war, which convulsed financial markets around the globe and sowed doubts about America’s standing in the world, died down nearly as quickly as it began.Most Read from BloombergTrump Signs Executive Orders on Federal Purchasing, Office SpaceDOGE Places Entire Staff of Federal Homelessness Agency on LeaveHow Did This Suburb Figure Out Mass Transit?Why the Best Bike Lanes Always Get BlamedNashvill

US stocks were mixed Thursday as President Donald Trump touted trade deal progress with Europe and China and investors digested a threat from the president to fire Federal Reserve Chair Jerome Powell.

The media company majority owned by President Donald Trump, Trump Media & Technology Group, said on Thursday it had asked the U.S. Securities and Exchange Commission (SEC) to investigate a recent short position in its stocks. Hedge fund Qube Research & Technologies disclosed a roughly $105 million short position in Trump Media on Monday, according to a filing with Germany's federal Gazette Bundesanzeiger. Trump Media, which is 53% owned by Trump and is the parent company of the Truth Social platform, said in a memo sent to the SEC on Thursday it was concerned Qube's short positions could involve "suspicious activity."

An earnings miss by UnitedHealth Group dragged down the Dow.

U.S.-listed shares of Novo Nordisk plunged 7% in intraday trading Thursday after rival Eli Lilly reported positive oral weight-loss drug news and BMO cut its rating for the Danish drug developer's stock.

The major U.S. equities indexes were mixed at midday Thursday, with the Dow Jones Industrial Average down close to 400 points as UnitedHealth Group shares plunged.

Traders saw the all-clear on Thursday from the European Central Bank to bet on even steeper interest rate cuts ahead, confident the central bank will ease policy further if trade tensions dent a fragile economy. The ECB cut rates by 25 basis points (bps) for a seventh time this cycle to 2.25%, to bolster an already struggling euro zone economy facing a large hit from U.S. tariffs that have whipsawed markets since President Donald Trump's April 2 reciprocal tariffs. The euro weakened and government bond yields across the bloc fell sharply as traders reacted to the dovish ECB message.

UnitedHealth stock was under pressure early Thursday after the company slashed its profit outlook following results its CEO called "unusual and unacceptable."

It's been difficult to draw buyers back into the housing market, with a pronounced mismatch between buyers and sellers.

Nvidia stock continued its slide on Thursday bringing market cap losses since it disclosed new export controls to more than $250 billion.