The shares fell on Tuesday after the climavian comment of the President Donald Trump on global trade agreements, which destroyed hope that progress would soon be achieved in the customs area.
Investors also waited for the decision on the politics of the Federal Reserve.
Dow Jones Industrial Average lost 389.83 points, or 0.95%, closing at 40,829.00. The S & P 500 dropped by 0.77% and ended at 5,606.91, and Nasdaq Composite fell by 0.87% and ended at 17,689.66. All three main indices recorded successive downs.
The shares of Tesla fell by 1.8% after the sale of new companies in the UK and Germany fell to the lowest level in more than two years in April, although the demand for electric vehicles increased. Goldman Sachs stocks fell by 1.8%, withdrawing Dow lower. The technological giants of Nvidia and the Meta Platforms also fell.
The shares were sedanized after Trump met on Tuesday afternoon with Canadian Prime Minister Mark Carney, which marked the beginning of the negotiations between two leaders since Carney took over the duty earlier this year.
During the meeting, Trump gave up the promise that trade agreements were in sight, saying, “we do not have to sign agreements.” His statement contradicts the comments from the Minister of Finance Scott Bessent earlier this week. Bessent told CNBC on Monday that “we are very close to some agreements”, repeating the comments that Trump itself did on Sunday that agreements could be achieved this week, seeing SEEbiz.
Bessent reiterated this attitude in Testimony for the Budget of the Agreement on Tuesday, noting: “Eighteen percent of our countries are our main trading partners. And I would be surprised to not finish more than 80 or 90% of those agreements, and that could be much before.”
Certainly, official trade agreements between the United States and its trading partners have not yet been published. And while the data on Monday published by the Institute for supplying the supply shows a stronger activity of the service sector in April, expected, concerns about the tariffs is still present.
“We’ll probably fall to the new lowest levels, even when Trump reduce China at 50%,” said Billionaire and Hedge Funds Manager Paul Tudor Jones for CNBC on Tuesday. “They will return them to 50% or 40%, whatever. Even when it does … That would be the greatest increase in taxes from the 60s. So you can somehow take 2%, 3% of growth.”
