00:00And other than Asia market, we're going to be focusing on the US market as well.
00:05As you can see, before we're going to share with the US market, the S&P 500 fell to snap its longest streak of gains in 20 years on Monday
00:13as investors assess US President Donald Trump's latest tariff announcement ahead of the Federal Reserve monetary policy decision later this week.
00:22On Sunday, Trump announced a 100% tariff on movies produced outside the US but provided no details on how such levy would be implemented.
00:36Since Trump announced his first round of tariffs on April 2nd, with the S&P 500 initially dropping nearly 15%,
00:43only to stabilize and climb for the last nine straight sessions, its longest streak since 2004.
00:49On Monday, Treasury Secretary Scott Besson said Trump's tariff, tax cut and deregulation agenda would work together to drive long-term investment to the US.
01:00Any markets could overcome any short-term turbulence.
01:03So I think the market today is mostly reflecting the big news from Warren Buffett over the weekend.
01:11We see that in Berkshire Hathaway stock and the rest of the market is just sort of finding its footing for the week.
01:18So big news that Warren Buffett plans do step down.
01:22And as we said that we see it in the stock itself, it is a big message across the markets and across Wall Street for such an oracle to be planning an exit.
01:34According to preliminary data, the S&P 500 lost 35.47 points or 0.62% to end at 5,651.20 points,
01:46while the Nasdaq Composite lost 138.72 points or 0.73% to 17,839.01.
01:55The Dow Jones Industrial Average fell 102.10 points or 0.25% to 41,215.33.
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