The New York stock market started lower amid renewed concerns over the U.S.-China trade conflict. The PCE (Personal Consumption Expenditures) price index released on the same day approached the target level, suggesting easing inflation, but geopolitical concerns seem to have had a greater influence.
As of 9:47 a.m. Eastern Standard Time on the 30th, the Dow Jones Industrial Average on the New York Stock Exchange (NYSE) is trading at 42,163.28, down 52.45 points (0.12%) from the previous session. The S&P 500 index is down 24.15 points (0.41%) at 5,888.02, while the Nasdaq index is showing a decrease of 132.32 points (0.69%) at 19,043.55.
On this day, Trump wrote on the social networking service (SNS) Truth Social, "The bad news is that China has completely violated the agreement with us," adding, "The role of the nice guy (Mr. NICEGUY) ends here."
Earlier, Scott Bessent, the U.S. Treasury Secretary, also mentioned in an interview with Fox News that "U.S.-China trade negotiations are somewhat at a standstill," raising concerns in the market.
The broad tariff imposition plan being pursued by the Trump administration is currently facing legal uncertainty. The U.S. Court of International Trade (CIT) has issued a suspension decision on most tariffs imposed by former President Trump, but in the appeal court, a stay was issued to temporarily maintain the effectiveness of these tariffs.
However, the PCE (Personal Consumption Expenditures) price index, which is the core inflation indicator preferred by the Federal Reserve, rose by 2.1% compared to the same month last year, falling short of market expectations (2.3%) and nearing the target of 2%. This signals that inflationary pressures are easing, contributing to increased expectations for rate cuts.