US President Donald Trump confirmed that the US will impose 25% tariffs on Canada and Mexico starting Tuesday, stating that negotiations with these two trade allies reached an impasse.
Trump’s hardline stance sparked a late sell-off in US stocks, with the DJIA plunging as much as 920 points, dipping below the 43,000 mark to bottom at 42,919. It closed down 649 points, or 1.5%, at 43,191.
The Nasdaq slid more sharply, shedding 497 points, or 2.6%, to close at 18,350, while the S&P 500 recorded its largest decline since late last year, dropping 104 points, or 1.8%, to 5,849.
Nvidia (NVDA.US) closed down 8.7% on Monday, wiping US$265 billion off its valuation, bringing its market cap to US$2.8 trillion.
Tesla (TSLA.US) dived 2.8%, while Apple (AAPL.US) subtracted 1.6%. Chip stocks also faced downward pressure, with Broadcom (AVGO.US) slumping 6%.
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AAStocks Financial News
Web Site: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| Nvidia (C) |
10537 |
165 (-) |
0.050 |
6.2 X |
| Nvidia (C) |
10573 |
150 (-) |
0.210 |
3.3 X |
| Nvidia (P) |
10538 |
116 (-) |
0.275 |
2.8 X |
| TSLA (C) |
10469 |
440 (-) |
0.093 |
5.9 X |
| TSLA (C) |
10441 |
350 (-) |
0.168 |
5.9 X |
| TSLA (P) |
10468 |
250 (-) |
0.440 |
3.4 X |
| APPLE (C) |
10507 |
297 (-) |
0.024 |
14.2 X |
| APPLE (C) |
10551 |
254 (-) |
0.185 |
8.0 X |
| APPLE (P) |
10495 |
218 (-) |
0.140 |
7.5 X |
