Main US indexes modestly red; Nasdaq off most, down ~0.4%
Materials lead S&P 500 sector decliners; Energy up the most
Euro STOXX 600 index down ~1%
Dollar, bitcoin up; crude up >1%; gold ~flat
US 10-Year Treasury yield edges up to ~4.55%
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U.S. INDEXES EASE EARLY AS TRUMP PLANS MORE TARIFFS
The three major U.S. stock indexes are lower in early trading Wednesday after President Donald Trump said he planned to impose auto tariffs "in the neighborhood of 25%," and ahead of minutes from the Federal Reserve's last policy meeting.
Trump late Tuesday also said he planned similar duties on semiconductor and pharmaceutical imports.
Shares of General Motors GM.N are down 0.9%, while shares of Ford Motor F.N are flat.
Investors are interested in any signs from the Fed on its rate plans when the minutes are released this afternoon. The Fed held interest rates steady last month and Fed Chair Jerome Powell said there would be no rush to cut them again. Yet, many traders still see at least one rate cut this year, according to LSEG data.
The materials sector .SPLRCM is leading decliners, while the energy sector .SPNY is up the most among sectors.
Here is the early market snapshot:
(Caroline Valetkevitch)
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FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:
LARGE CAPS PARTY, SMALL CAPS LEFT OUT - CLICK HERE
WHAT DOES EUROPE NEED FOR FURTHER RE-RATING? - CLICK HERE
FRENCH CORPORATE SPREADS: GLASS HALF FULL OR HALF EMPTY? - CLICK HERE
MARKETS TOO RELAXED ABOUT CANADIAN DOLLAR DECLINES - WESTPAC - CLICK HERE
WHO CARES ABOUT TARIFF THREATS? - CLICK HERE
EUROPE BEFORE THE BELL: STOCKS RALLY CALMING DOWN - CLICK HERE
MORNING BID MARKETS BECOMING NUMB TO TARIFF VOWS CLICK HERE
morning snapshot https://tmsnrt.rs/4gVvWQM
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