Hello traders everywhere. The stock market is trading lower Wednesday after the Trump administration announced that is unleashing a new wave of tariffs on $200 billion worth of Chinese goods. The tariffs won't come into effect immediately but instead face a review process, with hearings taking place in mid-to-late August. The announcement came just days after both nations imposed $34 billion worth of tariffs on each other.
The Dow has fallen over 190 points as we enter afternoon trading, with Caterpillar as the biggest decliner. The S&P 500 has dropped 0.65% as energy, materials, and industrials dropped. The Nasdaq also declined 0.60%.
Key Levels To Watch This Week:
S&P 500 (CME:SP500): 2,691.99
Dow (INDEX:DJI): 25,003.10
NASDAQ (NASDAQ:COMP): 7,806.60
Gold (NYMEX:GC.Q18.E): 1,266.90
Crude Oil (NYMEX:CL.QN18.E): 74.70
U.S. Dollar (NYBOT:DX.M18.E): 95.25
Bitcoin (CME:BRTI): 6,812.91