‘The Claman Countdown’ panelists Kenny Polcari and Simeon Hyman analyze how the markets will reply to a tariff on Canada and Mexico.
U.S. shares fell sharply on Monday hours earlier than President Trump’s 25% tariffs towards Canada and Mexico are set to go reside at midnight.
The Dow Jones Industrial fell almost 700 factors or 1.48%, whereas the Nasdaq Composite misplaced 2.6% and the S&P 500 1.7%.
Ticker Safety Final Change Change % I:DJI DOW JONES AVERAGES 43191.24 -649.67
-1.48%
I:COMP NASDAQ COMPOSITE INDEX 18350.191194 -497.09
-2.64%
SP500 S&P 500 5849.72 -104.78
-1.76%
Most energetic shares included Nvidia, which misplaced 8% and Intel, a rival to TSMC fell 4% and Ford almost 2%.
Ticker Safety Final Change Change % NVDA NVIDIA CORP. 114.06 -10.86
-8.69%
INTC INTEL CORP. 22.74 -0.99
-4.17%
F FORD MOTOR CO. 9.39 -0.15
-1.57%
Dow Jones Industrial Common
“No room left for Mexico or for Canada. No, the tariffs, you know, they’re all set. They go into effect tomorrow,” Trump mentioned, taking questions after asserting TSMC’s $100 billion funding within the U.S. to “build state of-the-art semiconductor manufacturing facilities” largely in Arizona.
TARIFFS ON CANADA, MEXICO KICK-IN TUESDAY
U.S. President Donald Trump (R) shakes palms with Taiwan Semiconductor Manufacturing Firm (TSMC) CEO C.C. Wei within the Roosevelt Room of the White Home on March 3, 2025 in Washington, D.C. (Andrew Harnik/Getty Pictures / Getty Pictures)
“It’s going to be very costly for people to take advantage of this country. They can’t come in and steal our money and steal our jobs and take our factories and take our businesses and expect not to be punished, and they’re being punished by tariffs,” he added.
Expertise and power shares paced the promoting, whereas client staples and healthcare, defensive performs, posted fractional good points.
Ticker Safety Final Change Change % XLK TECHNOLOGY SELECT SECTOR SPDR ETF 218.76 -6.78
-3.01%
XLE ENERGY SELECT SECTOR SPDR ETF 87.84 -3.17
-3.48%
XLP CONSUMER STAPLES SELECT SECTOR SPDR ETF 83.54 +0.53
+0.64%
XLV HEALTH CARE SELECT SECTOR SPDR ETF 149.58 +0.65
+0.44%
The yield on the 10-year Treasury slipped to a three-month low of 4.2%.
Together with tariffs, disappointing manufacturing knowledge additionally rattled the markets. The ISM new orders index fell for the primary time in six months, whereas the employment index stays in contraction for eight of the final 9 months.
The U.S. financial system could also be staring down a slowdown. The Federal Reserve Financial institution of Atlanta’s GDPNow forecast, which measures development expectations in real-time, is exhibiting a 2.8% drop for the primary quarter of 2025. Final week, client confidence noticed the largest drop in almost 4 years.
Ticker Safety Final Change Change % USO UNITED STATES OIL FUND – USD ACC 73.32 -1.90
-2.53%
GLD SPDR GOLD SHARES TRUST – USD ACC 266.74 +3.47
+1.32%
Oil slipped over 2% to $68.28 per barrel, whereas gold inched up 1.85% to $2,901 an oz..
TRUMP ADVANCES CRYPTO RESERVE PLAN
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In cryptocurrencies, Bitcoin reversed earlier good points after Trump on Sunday introduced plans for a crypto strategic reserve. Costs hovered beneath $90,000, down from a report $106,734.
