The shares fell on Wednesday before President Trump announced the customs tariff for car imports, as investors prepared for fees that could disrupt cars supply chains and increase consumer costs.
The S& P 500 index fell about 1.1 percent for the day, and the heavy NASDAQ in technology was 2 percent lower. Continuing the continuous volatility in the stock market, which is fueled by Mr. Trump’s commercial policies and anxiety among investors that a overwhelming customs tariff can govern inflation and slow down the American economy.
The shares of most major auto manufacturers fell on news from the White House that Mr. Trump will announce the tariff of new cars on Wednesday afternoon – and they extended their decreases after it revealed their plans for tariffs by 25 percent on all cars that are shipped to the United States. General Motors, which decreased more than 3 percent when the markets closed, fell 5 percent in post -market trading. Toyota also declined, while Ford, which ended today a little higher, wiped out its modest gains in post -working hours, and decreased by 5 percent.
Tesla shares were less than 5 percent when the markets closed, but their stocks rose in post -market trading. Tesla shares abandoned some gains after the Trump administration said that imported car parts will face a tariff as well.
The stock market decreased during the past month, a wave of sale that left at one point S&P 500 more than 10 percent less than its peak on February 19. Despite some recent daily gains, Wall Street’s morale has been reduced due to fears that Mr. Trump’s tariff and a commercial war may push prices up sharply, inhibit consumers and damage the economy.
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