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Lifting a stone to hit one's own foot! As soon as the tariff threat from Trump emerged, the stock prices of usa auto giants plummeted.
① The usa's incoming president Trump threatened to impose a 25% tariff on imported commodities from Mexico and Canada, causing shares of major us autos companies to plummet, with general motors falling nearly 9%. ② The tariffs may harm employment in both the usa and Mexico, and deal a blow to us consumers, which is undoubtedly Trump "lifting a rock only to drop it on his own foot."
Ford Motor Options Spot-On: On November 26th, 142.07K Contracts Were Traded, With 3.14 Million Open Interest
S&P 500, Dow Hit Records, Trump Tariffs to Cost Hundreds of Billions | Wall Street Today
Sector Update: Consumer Stocks Rise in Late Afternoon Trading
U.S. stocks reacted lukewarmly to Trump's tariff threats, as interpreted by Wall Street analysts.
On Monday evening, elected President Donald Trump threatened to impose high tariffs on the usa's three major trading partners to prevent drugs and immigrants from entering the usa, causing traders to once again experience Trump's unreliability in economic policy. Trump's social media post at 6:35 PM local time forced traders commuting or dining to evaluate its market impact. Indeed, the dollar surged against the Mexican peso and the Canadian dollar, and us treasury yields rose slightly. The usa equity index futures saw a slight decline. However, given the significant risks facing global trade, the market's reaction was calm and brief.
GM, Stellantis Stocks Slide as Trump Proposes Tariffs on Mexico, Canada
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