U.S. stock markets in New York are falling in early trading. Investor sentiment appears to be waning as President Donald Trump announced a 35% tariff on Canada and hinted at additional tariffs on other countries.
At 10:19 a.m. on the 11th (local time), the Dow Jones Industrial Average had fallen 249.38 points (0.56%) to 44,401.26 compared to the previous trading day. The Standard and Poor's (S&P) 500 Index was down 21.11 points (0.34%) at 6,259.35. The tech-heavy Nasdaq Composite Index was down 17.61 points (0.085%) at 20,613.05.
The day before, President Donald Trump warned of a 35% tariff on imports from Canada, stating, "If Canada does not cooperate to stop the flow of fentanyl into the United States, I will take further action."
He also said, "I will raise the current blanket tariff rate from 10% to 15-20% and apply it to other countries as well."
Meanwhile, the financial market is on high alert to see whether President Trump will express his stance on trade issues with the European Union (EU).