Here's how Wall Street pros are thinking about a new trade war
ING Economics estimated that the proposed tariffs, if enacted, would raise annual spending costs for consumers by $835 per American.
ING Economics estimated that the proposed tariffs, if enacted, would raise annual spending costs for consumers by $835 per American.
The moves were driven largely by the expectation that tariffs and a possible full-blown trade war would stoke inflation.
US stock futures pointed to sharp losses for the major indexes, as Wall Street showed the effects of President Donald Trump’s announcement of tariffs.
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S&P 500 earnings per share could decline 1%-2% for each five percentage-point increase in the US tariff rate, Goldman Sachs estimated.
Share prices for car makers including Toyota, Nissan, Honda and Volkswagen fell after Donald Trump announced tariffs on Canada, Mexico, and China.
Shares of homebuilders and construction companies lost ground Monday on worries that new tariffs could raise building costs.
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Stocks in the US dropped Monday morning, following European and Asian markets lower as investors digested Trump's tariff announcements.
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