A photo of U.S. President-elect Donald Trump is seen as traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell on Nov. 26, 2024, in New York City.
Timothy A. Cleary | AFP | Getty Images
gave S&P 500 It rose slightly on Tuesday as investors weighed the risk of new tariffs from President-elect Donald Trump.
The broad market index rose about 0.4 percent. Nasdaq Composite climbed 0.5%. Dow Jones Industrial Average 84 points, or 0.2%, pulled down by a Slide More than 8 percent Imjan.
Trump called for one on Monday night. 25% tariff An additional 10% levy on Mexican and Canadian products, plus Chinese goods. He Already said will impose a tariff of Up to 20% An additional duty of at least 60 percent on all imports, and products from China.
To be sure, Wall Street was taking the news in stride, “both because investors aren’t entirely sure the tariffs will be lifted and as headlines race through the year.” In the end, favorable weather and reasonable earnings”. Adam Crisfoli of Critical Knowledge.
While stocks were mixed, some individual names and funds moved as investors analyzed the potential impact of Trump’s controversial policies. car maker Ford And General Motors slid More than 2% and 8% respectively. Alcohol Company Constellation BrandsMexican beers known for Corona and Modelo, fell more than 3.5 percent.
gave iShares MSCI Mexico ETF (EWW)Which tracks a basket of equities tied to America’s southern neighbor, fell more than 2.5 percent. Mexican President Claudia Schönbaum Pardo indicated on Tuesday that any new tariffs on her country would result in retaliatory tariffs on U.S. exports to Mexico.
These steps have come after Trump’s announcement. Election of the Secretary of FinanceHedge fund executive Scott Besant helped bolster the belief that the post-election rally is back in full gear on Monday. both Dow And S&P 500 kill New intraday records In Monday’s session, the former also ended the day at an all-time closing high.
Small cap centered Russell 2000 It also hit a fresh high on Monday, marking its first new intraday record high since 2021. But the index retreated 0.5% in Tuesday’s session.
Investors will monitor the Federal Reserve’s meeting minutes due at 2pm ET for insights on the path of monetary policy.
U.S. markets are dark Thursday for the Thanksgiving holiday and are scheduled to close early Friday. Trading volume is expected to remain light.