US President has brought back Steel tariffs, global market trading in a mix


  • After a positive start to the day, global indices gave up gains over Donald Trump’s announcement that he would re-impose tariffs on steel and aluminium from Argentina and Brazil.
  • The unexpected announcement dragged American and European indices into red, with US major S&P 500 slumping 24.42 points or 0.78% to 3,117.81, while Nasdaq Composite slumped 105.36 points or 1.22% to 8,559.98. European benchmark equity indices, i.e., FTSE 100 fell off 41.50 points, or 0.54% to 7,305.75 and Germany’s DAX traded 226.38 points or 1.71% lower at 13,011.50.