Wall Street Opens Mixed as Tariff Fears and Nvidia Earnings Loom
What Happened
US markets opened on a cautious note on Monday, with the Dow Jones gaining around 0.3%, while the S&P 500 slipped 0.3% and the Nasdaq fell 0.8% as investors moved away from technology stocks. Market sentiment was weighed down by escalating US-Canada trade tensions after President Donald Trump threatened 50% tariffs on Canadian autos, auto parts and steel, alongside fresh US sanctions on Iran.
Key Takeaways
Investors are adopting a risk-off approach ahead of Nvidia's earnings this week and the Federal Reserve's Jackson Hole symposium, with geopolitical tensions and tariff uncertainties driving volatility in technology and semiconductor stocks.