Your current location is:{Current column} >>Text
Movie tariffs pressure U.S. stocks, ending S&P's nine consecutive gains.
{Current column}1People have watched
IntroductionThe U.S. stock market experienced a decline this Monday, marking the end of the longest nine-day win ...

The U.S. stock market experienced a decline this Monday, marking the end of the longest nine-day winning streak for the S&P 500 since 2004. Investors are closely watching President Trump's newly announced tariff policies while awaiting the upcoming Federal Reserve monetary policy decision, leading to cautious market sentiment.
On Sunday, Trump unexpectedly announced a 100% tariff on all films produced outside the United States, though no detailed implementation plan was provided. This announcement further increased market uncertainty. Since Trump launched the first round of tariffs on April 2nd, the stock market performance has been volatile. The S&P 500 initially dropped nearly 15% but later rebounded and achieved a nine-day winning streak, the longest in 20 years.
However, this rally came to an abrupt end on Monday. The Dow Jones Industrial Average fell 0.24% to close at 41,218.83 points; the S&P 500 dropped 0.64% to 5,650.38 points; and the Nasdaq Composite Index declined 0.74% to 17,844.24 points. The film tariff policy impacted several media stocks, including Netflix, which fell 1.9%, ending an 11-day winning streak. Amazon and Paramount Global also dropped by 1.9% and 1.6%, respectively. However, after the initial plunge, some of these stock prices partially stabilized.
Art Hogan, chief market strategist at B Riley Wealth, stated that the S&P 500's continuous rally was "unsustainable" as investors began to account for the uncertainty of reaching a trade agreement, with time potentially leading to actual economic losses. He warned that economic pressure could increase if negotiations remain unresolved in the coming weeks.
In addition to media stocks, the energy sector was also hit hard, falling 2% overall, making it the worst-performing of the 11 sectors in the S&P 500. This followed OPEC+'s announcement to accelerate production increases, sparking concerns over supply gluts and weak demand.
Furthermore, Berkshire Hathaway's Class B shares plummeted 5.1% following CEO Warren Buffett's announcement of his intention to step down as chief executive, causing investor sentiment to fluctuate.
On the economic front, data from the Institute for Supply Management (ISM) indicated a pick-up in U.S. service sector activity in April, although the costs for businesses to procure materials and services have significantly risen, intensifying inflationary pressures. Notably, tariff policies are considered one of the drivers of price increases.
Investors are now turning their attention to the Federal Reserve policy statement to be released on Wednesday. The market generally expects interest rates to remain unchanged at this meeting, but Federal Reserve Chairman Powell's remarks will be key in shaping market expectations about the future path of interest rates. Investors are keen to glean hints about any potential adjustments to monetary policy.

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.
Tags:
Related articles
Oil dips on recession fears, slower demand By Reuters
{Current column}By Yuka Obayashi and Jeslyn LerhSINGAPORE (Reuters) - Oil prices eased for the third straight day on ...
Read moreNations secure U.N. global high seas biodiversity pact By Reuters
{Current column}By David Stanway(Reuters) -Negotiators from more than 100 countries completed a U.N. treaty to prote ...
Read moreOrange Juice Crashing From Record Highs, Could Go Beneath $2
{Current column}— which determines shelf prices for the beverage — settled at $2.3685 a lb on New York’s InterContin ...
Read more
Popular Articles
- U.S. natural gas storage has first spring build of 25 bcf vs. 28 bcf forecast By
- Meta exploring plans for Twitter rival By Reuters
- Nasdaq futures fall 55 pts; jobless claims to set scene for payrolls By
- U.S. stocks rise after higher jobless claims calm rate fears By
- Debt ceiling talks resume, Home Depot reports
- Astra Money Trading Is Safe? Company Abbreviation Astra Money
Latest articles
-
Oil rises as US stockpiles may drop, demand signs stay strong By Reuters
-
Campbell Soup, Occidental Petroleum and WeWork rise premarket; Stitch Fix falls By
-
Oil flat as China hopes, US stock draw offset recession fears By Reuters
-
Container ship refloated in Egypt's Suez Canal after breakdown
-
S&P 500 rides energy stocks higher to stay on track for monthly gain By
-
Container ship refloated in Egypt's Suez Canal after breakdown