Bonds & Stocks
Wall Street kicked off Tuesday’s session with a relative degree of caution a day after fears about the disruptive impacts of artificial intelligence sparked a slide that engulfed various industries. The S&P 500 slid 0.2%. The yield on 10-year Treasuries was little changed at 4.03%. The dollar rose.
Economy
Donald Trump’s new 10% global tariffs went into effect on Tuesday, kicking off a White House effort to preserve the president’s trade agenda after the Supreme Court struck down his original sweeping duties. The White House is working on a formal order that will increase the global tariff rate to 15%.
World
European Union officials believe the US will soon streamline its broad tariffs on products containing steel and aluminum. A move by President Donald Trump’s administration to reduce the amount of goods subject to the 50% tariff rate applied to derivative products that contain the metals may be weeks away.