Port tariffs between Washington and Beijing began to govern. Added to that is that this Tuesday the head of the Fed, Jerome Powell, will give his last public intervention before the body’s meeting to decide whether they will lower the rate.
The markets were excited this Monday to recover part of what they lost last Friday, the day in which Wall Street recorded its biggest drop since April. However, the trade policies of the American president, Donald Trump, are once again shaking the New York Stock Exchange this day and The main stock indices fall in the pre-opening.
The index that groups together the most important companies in the New York Stock Exchange, he S&P 500, falls 0.83% in the “premarket” this Tuesdaywhile the Nasdaq Composite, dedicated to the technology sector, down 1.10%. For its part, the industrial index Dow Jones It operates with a red of 0.51%.
In the previous one, the actions with the highest are Huntington Ingalls (+2.4%), Wells Fargo (+2.62%) and T-Mobile (+1.3%). On the opposite side, the companies with the greatest losses are Micron (-3%), seagate (-2.69%) and Western Digital (-3.21%).
In the rest of the world, the situation is also bearish. In Europe, the Euro Stoxx fell 0.89%, while at the local level the German DAX falls 1% and the French CAC accompanied with a red of 0.87%. Outside the eurozone, the UK FTSE against 0.30%.
In Asia, the Hang Seng in Hong Kong fell 1.73%, the Shanghai stock market fell 0.62% and the Japanese Nikkei plummeted 2.68%. its biggest drop since Aprila product of political and economic uncertainty.
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Port tariffs started
China and USA This Tuesday they began a new chapter in their trade war with the simultaneous application of port tariffs. Beijing will apply a tax of US$56 to US ships, in response to Washington’s measure, which charges US$50 per ton to Chinese vessels. Both rates will rise progressively until 2028 and threaten to make products more expensive and disrupt global logistics.
The trade escalation comes on top of other measures by Beijing, such as new restrictions on rare earths announced last week.. In response, Trump on Friday threatened an additional 100% tariff on Chinese goods.
Trump also stated that he saw no reason to meet with his counterpart Xi Jinping at the end of October at the APEC summit in South Korea. However, The Secretary of the Treasury, Scott Bessent, assured this Tuesday that both presidents maintain their meeting plans for this month.
Powell gives his last speech before the Fed meeting
For its part, Federal Reserve Chairman Jerome Powellwill give his last scheduled statements this Tuesday before the next Fed meeting, scheduled for the end of this month.
Although the economy is enjoying higher-than-expected growth and a recent increase in productivity, it is still adjusting to tariff and immigration policies that, according to different experts, could lead to an increase in inflation and unemployment.
The problem is that the monetary authority faces a general lack of official data, as a result of the closure of the US federal government, so does not have the employment and inflation statistics with which it usually makes its monetary policy decisions.
Source: Ambito
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