Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week.
Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week.
Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq each retreated by about 0.3% early Monday.
An announcement over the weekend by U.S. President Donald Trump that he plans 30% tariffs on goods from Mexico and the European Union had a modest immediate impact, as analysts said they expected progress toward trade deals before next month’s deadline.
The EU is America’s biggest business partner and the world’s largest trading bloc. The U.S. decision will have repercussions for governments, companies and consumers on both sides of the Atlantic.
The tariffs could make everything from French cheese to German electronics more expensive in the U.S., while destabilizing economies from Portugal to Norway.
Markets in Europe are responding negatively, with Germany’s DAX slumping 1% and and Paris’s CAC 40 shedding 0.
