FX.co ★ S&P and Dow Lower as Trade Uncertainty Weighs

On Monday, US stock markets experienced varied movements, primarily trending downward. The S&P 500 declined by 0.3%, and the Dow Jones Industrial Average decreased by approximately 160 points. In contrast, the Nasdaq Composite managed a slight uptick of 0.3%. These market fluctuations occurred amidst heightened unease regarding intensifying trade disputes. China accused the United States of breaching the recent trade agreement between the two nations and pledged to implement actions to safeguard its interests. This accusation mirrored previous statements made by President Trump, who asserted that China had violated the accord's terms. Concurrently, tensions with the European Union escalated as President Trump unveiled intentions to double tariffs on steel and aluminum to 50%. This announcement spurred a significant surge in US steel-related stocks: Nucor spiked by 10.6%, Steel Dynamics increased by 11%, and Cleveland-Cliffs soared by 21.9%, though US Steel Corp experienced a marginal decline of 0.1%. Additionally, tech giants exhibited mixed performances—while Apple gained 0.5%, Nvidia 1.4%, Amazon 0.3%, and Meta 0.9%, Alphabet saw a decrease of 1.5%. Meanwhile, Microsoft and Tesla hovered near their previous levels with declines of 1.6%.