As the trading day begins, investors should be aware of the following important news items:
1. Taking a toll
Stock futures have dropped again on Monday following a two-day selloff triggered by President Donald Trump’s sweeping tariffs imposed globally.
2. New tariff in town
The initial round of Trump’s new tariffs went into effect on Saturday, applying 10% duties to goods from several countries, including Great Britain, Colombia, and Australia (as well as some of its uninhabited territorial islands, home to many penguins).
3. Taxing poetic
In light of the U.S. stock market’s significant decline at the end of the week, Trump and his economic advisors reiterated that the temporary economic pain is a necessary trade-off for the promised revival of U.S. manufacturing.
4. Duty calls
Despite the stock market’s downturn last week, key business leaders have been slow to voice criticism regarding Trump’s escalation of the ongoing global trade war.
5. When the levy breaks
Concerns over the potential for a recession due to the escalating trade conflict are impacting markets beyond equities. U.S. crude oil prices have fallen below $60 a barrel on Monday, marking their lowest level since 2021 as expectations of slowing economic activity grow.
Source (CNBC)
