Economics
Stocks Fall on Trump’s Tariff Gambit, Factory Data: Markets Wrap
- Trump revives Brazil, Argentina steel tariffs, swipes at Fed
- U.S. factories extend contraction as index misses forecasts
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U.S. stocks dropped on concern over global trade risks and disappointing factory data. The dollar and bonds declined.
The S&P 500 Index fell the most in almost eight weeks on concern the U.S. will slap fresh tariffs on China and after President Donald Trump reinstated levies on steel and aluminum from Argentina and Brazil. The risk-off mood spread to Europe, where shares had the biggest slump in two months. The greenback slid against most major peers, while Treasury 10-year yields jumped.