Stocks Drop as Trump’s Tariffs Rattle Markets
- 6 years ago
Stocks Drop as Trump’s Tariffs Rattle Markets
In fact, until Mr. Trump’s comments on Thursday, the prevailing worry for investors seemed to be
that economic growth — both in the United States and around the world — was so robust that the Federal Reserve might move quickly to raise interest rates in order to fend off inflation.
On the other hand, some companies that sell industrial metals saw their stock prices rise,
with shares of AK Steel up roughly 8 percent and U. S. Steel jumping more than 6 percent.
The Standard & Poor’s 500-stock index fell 1.2 percent to 2,682 Thursday afternoon, after falling roughly 2 percent earlier in the day.
Shares of automakers such as Ford and General Motors, large consumers of steel
and aluminum, fell sharply, as the tariffs would raise the cost of raw materials.
By MATT PHILLIPSMARCH 1, 2018
President Trump’s vow to impose tariffs on steel and aluminum next week rattled financial markets Thursday.
In fact, until Mr. Trump’s comments on Thursday, the prevailing worry for investors seemed to be
that economic growth — both in the United States and around the world — was so robust that the Federal Reserve might move quickly to raise interest rates in order to fend off inflation.
On the other hand, some companies that sell industrial metals saw their stock prices rise,
with shares of AK Steel up roughly 8 percent and U. S. Steel jumping more than 6 percent.
The Standard & Poor’s 500-stock index fell 1.2 percent to 2,682 Thursday afternoon, after falling roughly 2 percent earlier in the day.
Shares of automakers such as Ford and General Motors, large consumers of steel
and aluminum, fell sharply, as the tariffs would raise the cost of raw materials.
By MATT PHILLIPSMARCH 1, 2018
President Trump’s vow to impose tariffs on steel and aluminum next week rattled financial markets Thursday.