Bonds & Stocks
A sense of caution prevailed on Wall Street as traders assessed the implications of the latest tariff developments. The S&P 500 was little changed. While Treasury yields dropped, traders are now fully pricing in the next Federal Reserve rate cut only in September.
Economy
President Trump imposed a 10% global tariff on foreign goods, moving quickly to preserve his trade agenda after the US Supreme Court struck down many of the levies he imposed last year. The tariff, which Trump ordered in a Friday directive, is set to take effect Feb. 24 at 12:01 a.m. Washington time.
World
The European Union is poised to freeze the ratification process of its trade deal with the US and is seeking more details from President Donald Trump’s administration on its new tariff program.