Page 25 - ARUBA TODAY

BUSINESS Thursday 15 March 2018
A25

Trade tensions hit Wall Street again

Trader James Dresch works on the floor of the New York Stock Exchange, Wednesday, March 14,
2018. U.S. stocks sank again Wednesday as investors worried about tariffs and rising trade ten-
sions.
(AP Photo/Richard Drew)

By MARLEY JAY his tariff plans at the start of loans like mortgages lower,
AP Markets Writer this month. They slumped which hurts bank's profits.
NEW YORK (AP) — U.S. stocks at first, but came back af- Household goods compa-
sank again Wednesday as ter the administration said nies also fell while depart-
investors worried about tar- it would grant exemptions ment stores and other re-
iffs and rising trade tensions. to some countries. They've tailers lost ground after the
That hurt industrial compa- slipped over the last two Commerce Department
nies, while banks slumped days as investors consid- said retail sales declined in
along with interest rates. ered the possibility of great- February.
Stocks rose in the morn- er trade tensions with Eu- The S&P 500 index lost 15.83
ing as investors looked for rope and China. points, or 0.6 percent, to
a rebound from the previ- "Since the correction, inves- 2,749.48. The Dow Jones in-
ous day's losses, but with tors have been a little bit dustrial average lost 248.91
European leaders warning more sensitive to risk," said points, or 1 percent, to
about the risks of trade dis- Karyn Cavanaugh, senior 24,758.12. The Dow is com-
putes, indexes gradually market strategist at Voya In- prised of 30 large multina-
headed lower. Boeing and vestment Strategies. "Before tional companies, some of
other industrial compa- the correction, investors which will feel a pinch from
nies, including airlines and were almost bulletproof." higher metals costs or from
defense companies, took Elsewhere, banks fell along retaliatory tariffs that may
some of the worst losses. with bond yields. Declining be placed on U.S.-made
Stocks have bounced yields force interest rates on goods.q
around since President
Donald Trump announced

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