Dow industrials' Tuesday-morning decline exceeds 200 points
U.S. stocks fell at the start of trade Tuesday, amid the threat of a fresh escalation of tensions on tariffs with the European Union, threatening to snap an eight-day winning streak for the S&P 500.
What’s driving the market? A fresh clash in international trade is being digested by investors in early morning action, after the office of the U.S. Trade Representative threatened to levy tariffs on many European goods late Monday. The threat is a retaliation against European companies’ subsidies for aircraft manufacturer Airbus SE EADSY, -1.75% If the U.S. follows through, the proposed tariffs would affect about $11 billion in imports to the U.S.
— Donald J. Trump April 9, 2019 Fresh tensions in international trade comes as Trump’s administration was reportedly close to resolving a yearlong spat with China, which has roiled markets because such a clash between the world’s largest economies could disrupt global economic growth, market participants have said.
Which data are in focus? A report on job openings for February is slated to be released at 10 a.m. Eastern Time. Shares of Paris-listed Airbus SE AIR, -1.84% were off 2% amid the U.S. tariff threat. U.S. listed shares EADSY, -1.75% fell 0.7% Tuesday morning. Shares of American Airlines Group Inc. AAL, -3.28% fell 1.3% after the company cut its first quarter guidance.
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