NEW YORK: Wall Street stocks edged lower early Monday as markets digested President Donald Trump’s latest tariff threats and looked ahead to major earnings and economic releases later in the week.
Trump’s latest threats targeted the European Union and Mexico with 30 percent levies if no trade deal is reached by August 1. Markets have largely shrugged off Trump’s trade rhetoric in recent days in the belief that a compromise will be found.
About 10 minutes into trading, the Dow Jones Industrial Average was down 0.1 percent at 44,331.89.
Trump’s tariff assault on Canada drags Wall St lower
The broad-based S&P 500 declined 0.2 percent to 6,250.55, while the tech-rich Nasdaq Composite Index slipped 0.1 percent to 20,566.42.
Both the S&P 500 and Nasdaq have closed at records in recent days as markets embrace a solid-enough US economic picture while anticipating Federal Reserve interest rate cuts later in the year.
Besides ongoing trade war maneuvering, this week’s calendar includes consumer price data for July as well as earnings from JPMorgan Chase, Citigroup and other large US banks.
Comments
Comments are closed for this article.