S&P 500 Rises Slightly Following Trump Tariff Plans; Amgen Weighs on Dow
The S&P 500 rose slightly on Tuesday as investors assessed the threat of new tariffs from President-elect Donald Trump.
The broad market index advanced 0.3%, while the Nasdaq Composite climbed 0.5%.The Dow Jones Industrial Average slid 192 points, or 0.4%, pulled down by a slide of more than 11% in Amgen.
Trump on Monday night called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said he would impose a tariff of up to 20% on all imports, and an additional duty of at least 60% on products from China.
To be sure, Wall Street appeared to be taking the news in stride, “both because investors don’t entirely believe the levies will wind up being implemented and as the headlines are counteracted by favorable year-end seasonality and decent earnings,” according to Adam Crisafulli of Vital Knowledge.
Source : CNBC