WASHINGTON: US shares closed sharply decrease Monday (Mar 3), after President Donald Trump appeared to verify tariffs would come into impact the next day towards main buying and selling companions Mexico and Canada.
“No room left for Mexico or for Canada,” Trump mentioned on the White Home when a reporter requested whether or not the levies would come into drive from Tuesday.
“The tariffs, , they’re all set, they go into impact tomorrow,” he mentioned.
The Dow Jones Industrial Common slipped 1.5 per cent to 43,191.24, whereas the broad-based S&P misplaced 1.8 per cent to complete at 5,849.72.
The tech-rich Nasdaq took a harsher tumble, closing down 2.6 per cent at 18,350.19, whereas the CBOE Volatility Index, or VIX – colloquially referred to as Wall Road’s “worry gauge” – surged, hitting its highest degree since December.
However regardless of the uncertainty, “the backdrop stays a positive one,” Angelo Kourkafas from Edward Jones instructed AFP.
Monday’s buying and selling, he added, was in keeping with the choppiness now we have seen over the previous three months” within the monetary markets.
Amongst particular person shares, chip titan Nvidia slumped 8.7 per cent after the Singaporean authorities introduced a probe into whether or not servers containing its chips that ended up in Malaysia could have contravened US legal guidelines towards chip gross sales to China.
The servers had been equipped to Singapore-based corporations by US corporations Dell and Tremendous Micro Laptop, in response to Legislation and Dwelling Affairs Minister Ok Shanmugam.
Tremendous Micro closed down 13.0 per cent, whereas Dell’s shares fell 7.0 per cent.
