Tesla falls below 1 dollars billion
For the first time since November, Tesla is worth less than 1 dollars. The actions of the company fell 8% after new figures have shown that sales have dropped in Europe.
American actions have closed sharply after President Donald Trump has disrected the early hopes of a suspended rate.
Trump reiterated its 25% rate on Mexican and Canadian products will come into force on Tuesday.
China will also face an additional 10% price on Tuesday, as expected.
“Very important, tomorrow, prices, 25% in Canada and 25% on Mexico, and it will start,” Trump said at a press conference.
Large S&P 500 fell by 1.76%, or 104.78 points, to 5,849.72, for the largest loss of one day since December, pushing the index to a loss of almost 1% over the year. The first -rate DOW plunged 1.48%, or 649.67 points, at 43,191.24, and the NASDAQ lost 2.64%, or 497.09 points, at 18,350.19. Treasury yield to 10 years of reference slipped to 4.161%.
Trump’s comments have erased optimism earlier for a last minute agreement to avoid full prices on the two American allies. On Sunday, the secretary of the Treasury, Scott Bessent, admitted that Mexico had proposed to match the American prices on China to avoid being struck with Trump’s prices and urged Canada to follow suit.
“We will see. The Mexican management proposed to do so, “said Bessent in an interview on the CBS Nation. “We have not heard of Canadians, but I think it would be a very good start.”
Commerce secretary Howard Lunick also said that on Sunday in an interview with Fox News, the tax that would be taken from Mexico and Canada on Tuesday was still “fluid”, which means that it could be less than 25% offered.
Due to part of the price concerns, the three main Wall Street indices recorded their first monthly drop this year in February, the Nasdaq, heavy of technology, going almost a 10% drop in its top of all time. The defeat of 4% of the Nasdaq has marked its worst month since April 2024.
The weakening of economic data also causes tremors. A low manufacturing report on Monday could report an even clearer economic contraction in the first three months of the year, according to the Atlanta Fed GDPNOW Tracker. The tracker is updated after the main economic reports and after the release of the manufacturing report, it indicates an annualized decrease of 2.8% for the period from January to March.
Later this week, investors will see data from the labor market, including the key job of February jobs on Friday.
Corporate news
- Capri agreed to sell Versace in Prada for nearly $ 1.6 billion, Bloomberg reported. Capri’s actions, a luxury fashion conglomerate, jumped 3.87%.
- Intel shares have reversed its achievement and finished 4.17% after Reuters reported that the NVIDIA and Broadcom fleas designers are both carrying out tests on the 18A manufacturing process. If Nvidia and Broadcom decide that the tests are satisfactory, they could end up becoming customers of the Intel flea manufacturing company. Nvidia and Broadcom fell 8.69% and around 6%, respectively.
- The director general of Kroger was ousted after the investigation of his board of directors on his personal conduct. The actions of the grocery chain have lost almost 3%.
- Defense actions like Raytheon and Lockheed Martin increased by approximately 1% after the United States approved a $ 3 billion weapon contract in Israel.
- Chipotle was fractionally standing after the CEO of the Burrito chain said that the company intended to absorb, for the moment, any additional cost price could provide.
Cryptocrour
Trump declared in an article on Truth Social that he created a “strategic cryptography reserve” which will include bitcoin, ether, XRP, Solana’s token and Cardano ADA.
However, the earnings have realized that this announcement was erased by the subsequent confirmation by Trump from 25% prices on Mexican and Canadian goods.
Bitcoin dropped the last 8.78% to $ 86,043.63, but still in slowing down of three months last week of $ 80,000.
The story has been updated with new information.
Medora Lee is a money journalist, markets and personal finances in USA Today. You can reach it at mjlee@usatuday.com and subscribe to our free newsletter in terms of money for personal finance advice and commercial news every Monday to Friday.
