The tariff turmoil is causing some corporate collateral damage.
Boeing stock fell premarket, after a report that Beijing has told Chinese airlines to stop taking delivery of the U.S. company's planes. That would pull one of America's flagship manufacturers more deeply into the trade war between the two largest economies.
Meanwhile in Europe, luxury stocks sank after industry heavyweight LVMH reported a drop in sales, as it contends with mounting trade tensions and faltering Chinese demand.
More broadly, however, markets showed signs of stabilizing early Tuesday. Stock futures were muted and global markets gained, with global carmakers like Toyota and Hyundai tracking a U.S. auto rally. The dollar and the Treasury market were both subdued.
Later this morning, Bank of America and Citigroup will round out bank earnings season. Wall Street trading desks are minting money from the tariff chaos--but uncertainty and slowing growth could be bad news for other parts of the banks' businesses.
Major indexes had risen more than 0.5% Monday, helped by President Trump's comments that he could pause some tariffs to help automakers, and by weekend news that smartphones, memory chips and some other tech products would be exempt from tariffs.
At the same time, the government also said it opened new probes that could lead to pharma and semiconductor tariffs.
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(END) Dow Jones Newswires
April 15, 2025 06:06 ET (10:06 GMT)
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