Wall Street Sways Amid Trade Tariff Turmoil and Fed Watch
Wall Street braced for a rocky start as President Trump introduced new tariffs, sparking global trade war concerns. Investors are closely watching the Federal Reserve's upcoming monetary policy decisions. The announcement affected movie production companies and technology stocks, while Berkshire Hathaway faced changes as Warren Buffett announced his CEO departure.
Wall Street faced potential declines Monday as President Donald Trump announced new tariffs, igniting worries over a global trade war's repercussions. Additionally, investors were keenly awaiting the Federal Reserve's monetary policy decision slated for later this week.
Trump's Sunday announcement of a 100% tariff on non-U.S. produced movies left many uncertain about its implementation, prompting a dip in movie and television production companies' shares. Netflix saw a 4.6% drop, and Amazon.com fell by 1.6%. Notably, Walt Disney and Warner Bros. Discovery dipped 2.8% and 3.8%, respectively.
In another development, shares of Warren Buffett's Berkshire Hathaway slipped 2.6% following the investor's decision to step down as CEO. Market indices reflected the turbulence, with Dow E-minis dropping 0.64%, S&P 500 E-minis decreasing 0.85%, and Nasdaq 100 E-minis falling 1.04% by 08:43 a.m. ET.
(With inputs from agencies.)
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