As investors focused on important inflation statistics that were due later in the week, U.S. stock futures saw a decline in trading on Tuesday.
Dow Jones Industrial Average futures fell 0.2%, or 80 points. S&P 500 and Nasdaq 100 futures saw declines of 0.3% and 0.4%, respectively.
These actions follow President Donald Trump’s signing of an order on Monday night imposing a 25% import duty on steel. Additionally, he is increasing the 10% aluminium tariff to 25%.
Both taxes will go into force on March 4. Steel makers’ stock rose during Monday’s session after Trump revealed his intentions about the levies on Sunday.
Source (CNBC)
