Heightened worries about the global economy on Monday left U.S. stock futures and Treasury yields poised to begin June lower.
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Front and center of those worries is President Trump’s threat to impose tariffs on imports from Mexico. In combination with worsening Sino-American trade relations, investors were looking for safety rather than the relatively more risky stocks.
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Mexican Economy Minister Graciela Marquez said on Sunday she will meet with U.S. Commerce Secretary Wilbur Ross on Monday in Washington in the midst of growing trade. tensions between the two nations.
The planned meeting comes as President Trump threatened to impose a 5 percent tariff on all goods imported from Mexico beginning June 10 in an effort to get the country to prevent undocumented migrants from entering the U.S. The tax could increase to 25 percent and remain at that level “unless and until Mexico substantially stops the illegal inflow of aliens coming through its territory,” the White House said.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24815.04 | -354.84 | -1.41% |
| SP500 | S&P 500 | 2752.06 | -36.80 | -1.32% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7453.148248 | -114.57 | -1.51% |
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Futures for the Dow Jones Industrial Average were off 0.35 percent, the S&P 500 down 0.36 percent and the Nasdaq Composite lower by 0.53 percent.
The Dow is coming off a six-week losing streak, the longest losing streak in eight years. If the selling pressure in stocks continues and the Dow falls this week, it would be seven straight down weeks, which hasn’t happened in almost 18 years, since July 6, 2001.
The yield on U.S. Treasurys was down 2.10 percent, while crude oil prices were steady at approximately $53.85 per barrel.
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China’s Shanghai Composite closed down 0.30 percent, the Hang Seng ended 0.03 percent lower and Japan’s Nikkei 225 retreated 0.93 percent.
Britain’s FTSE 100 was down 0.47 percent, France’s CAC 40 fell 0.31 percent and Germany’s DAX was off 0.24 percent.
