Stocks closed well off session lows on Wednesday after the White House hinted Canada and Mexico could be exempt from tariffs proposed by President Donald Trump.
The Dow Jones industrial average ended 80 points lower after falling more than 300 points. The S&P 500 closed just below breakeven after falling nearly 1 percent. Real estate and tech were the best-performing sectors.
The Nasdaq composite closed 0.4 percent higher, hitting a session high in late-afternoon trade, as shares of Facebook and Alphabet rose 2.2 percent and 1.3 percent, respectively. The Russell 2000, which is made up of small-cap stocks, outperformed, rising 0.8 percent.
White House press secretary Sarah Sanders said the plan could include carve-outs for Mexico and Canada, two key U.S. trade partners. Trump is expected to release more details on his tariffs plan on Thursday or Friday.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.