How Trump is impacting the markets<br>
Belpointe Asset Management President David Nelson and the Manhattan Institute’s Steve Malanga on how President Trump is impacting the stock market.<br>
Trade war concerns unnerved investors as China answered the White House’s tariffs with tariffs of its own.
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Dow Jones futures were down by triple digits, lower by 1.18%. The S&P 500 was down 1.03% and the Nasdaq Composite was off 1.35%.
The Trump administration announced 25% tariffs covering around 1,300 industrial technology, transport and medical products.
China responded overnight with a tariff plan covering 106 types of U.S. products. China matched the U.S. with 25% tariffs on products ranging from soybeans, and autos to chemical products.
Most Asian markets were closed at the time China’s announced the tariffs.
In China, the Shanghai Composite gave up early gains to close down 0.2%.
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Hong Kong shares were little changed.
Japan’s Nikkei ended the day higher by 0.1%.
European markets traded mixed.
London’s FTSE was up 0.06%. France’s CAC was little changed and Germany’s DAX was off 0.39%
U.S. stocks advanced Tuesday, with the Dow Jones Industrial Average climbing back above 24,000 a day after a selloff in technology giants including Facebook.
The Dow rose 389.17 points, or 1.6%, to 24,033.36, while the S&P 500 added 32.57, or 1.3%, to 2,614.45 and the tech-laden Nasdaq increased 71.16, or 1%, to 6,941.28.
Spotify made its debut in a direct listing on the New York Stock Exchange, with shares opening at $165.90, compared with the reference price of $132. Shares closed at $149.01.
Amazon rose a day after plunging on concern the company will face a regulatory crackdown under President Trump.
On the U.S. economic calendar, investors will get the latest ISM Manufacturing survey and also the first labor-related report of the week. The payroll processing company ADP will release its report on March’s private sector hiring. This comes ahead of Friday’s release of the monthly jobs report.
