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U.S. INDEXES EASE EARLY AS TRUMP PLANS MORE TARIFFS

The three major U.S. stock indexes are lower in early trading Wednesday after President Donald Trump said he planned to impose auto tariffs "in the neighborhood of 25%," and ahead of minutes from the Federal Reserve's last policy meeting.

Trump late Tuesday also said he planned similar duties on semiconductor and pharmaceutical imports.

Shares of General Motors GM.N are down 0.9%, while shares of Ford Motor F.N are flat.

Investors are interested in any signs from the Fed on its rate plans when the minutes are released this afternoon. The Fed held interest rates steady last month and Fed Chair Jerome Powell said there would be no rush to cut them again. Yet, many traders still see at least one rate cut this year, according to LSEG data.

The materials sector .SPLRCM is leading decliners, while the energy sector .SPNY is up the most among sectors.

Here is the early market snapshot:

(Caroline Valetkevitch)

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FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:

LARGE CAPS PARTY, SMALL CAPS LEFT OUT - CLICK HERE

WHAT DOES EUROPE NEED FOR FURTHER RE-RATING? - CLICK HERE

FRENCH CORPORATE SPREADS: GLASS HALF FULL OR HALF EMPTY? - CLICK HERE

MARKETS TOO RELAXED ABOUT CANADIAN DOLLAR DECLINES - WESTPAC - CLICK HERE

WHO CARES ABOUT TARIFF THREATS? - CLICK HERE

EUROPE BEFORE THE BELL: STOCKS RALLY CALMING DOWN - CLICK HERE

MORNING BID MARKETS BECOMING NUMB TO TARIFF VOWS CLICK HERE