Talk of tariffs have markets down

Stocks are falling Friday after President Trump doubled-down on yesterday’s announcement of tariff’s on imported steel with a tweet this morning declaring trade wars “good” and “easy to win”. Industrial sectors that rely on steel and aluminum as inputs are among the hardest hit.

At present, the S&P 500 is down 0.63%, the DJIA is down 1.17%, and the NASDAQ is down 0.41%.

Industries doing well today include Tobacco, Independent Power and Renewable Electricity Producers, and Health Care Technology. Industries showing weakness include Construction Materials, Diversified Consumer Services, and Airlines. The VIX is up 2.02 to 24.49 after closing yesterday at 22.47. The most heavily traded options this morning are for the SPDR S&P 500 Trust ETF (SPY), with 18,401 Mar. 2 266 puts on the board. The total put/call ratio as of 10:00 AM was 1.22 (562,466/459,336). The advancers/decliners ratio for NYSE stocks is 862/2,032, while the advancers/decliners ratio for NASDAQ stocks is 1,257/1,611.

Symbols: SPY
Bobby Raines

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.

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