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- US stocks fell heavily on Wednesday, like other markets around the world.
- JP Morgan Asset Management has looked at the US sectors most exposed to price increases should the latest round of proposed US tariffs be implemented.
- It says the overall impact on the US economy is likely to be small in comparison to trade negotiations on autos and NAFTA currently underway.
After largely dismissing the introduction of tariffs on $ US34 billion worth of Chinese imports late last week, US stocks, like others around the world, were roiled on Wednesday as the Trump administration announced an additional list of $ US200 billion in Chinese imports that could soon attract tariffs of 10%.
The S&P 500 fell 0.71% with all sectors aside from utilities losing between 0.35% to 2.17%.See the rest of the story at Business Insider
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See Also:
- China’s latest inflation report points to upward pressure on prices around the world
- China vows to fight back as the trade war escalates
- The Chinese imports that will be hit hardest by the new round of proposed US tariffs
