Major U.S. stock indexes were lower Monday morning, though well earlier lows following news that U.S. tariffs on imports from Mexico would be delayed by a month.
The Dow Jones Industrial Average was down 0.3% in recent trading, while the S&P 500 and the Nasdaq Composite fell 0.7% and 1%, respectively. Stocks are coming off a volatile week of trading fueled by corporate results, the Federal Reserve’s latest decision on interest rates, the revelation that Chinese startup DeepSeek had launched a highly effective, low-cost AI model and uncertainty about trade policy.
Stocks had fallen sharply early Monday after President Donald Trump over the weekend signed executive orders calling for 25% tariffs on Canada and Mexico, and 10% tariffs on China, all of which were due to go into effect early Tuesday. Investors worry that tariffs could have a damaging effect on various U.S. industries, while also spurring inflation that could keep the Fed from cutting interest rates this year.
“In the weeks ahead, tariffs are likely to represent an overhang on markets and contribute to volatility, at least until investors gain greater clarity on the path and destination of US trade policy,” UBS Global Wealth Management Chief Investment Officer Mark Haefele said.
Electric vehicle maker Tesla (TSLA) was also down nearly 5% this morning as mega-cap tech stocks were mostly lower. AI chipmaker Nvidia (NVDA) and Apple (AAPL) were down 2% and 3%, respectively, while Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and and Broadcom (AVGO) also lost ground. Meta Platforms (META) gained about 1%.
Bitcoin, which had fallen as low as $91,000 on Sunday as investors responded to the tariff news by selling riskier assets, jumped to $99,000 in recent trading following the news of the delayed tariffs on Mexico.
The yield on 10-year Treasurys, which is sensitive to investor views on the economic outlook, were at 4.52%, down from 4.57% at Friday’s close.
Gold futures were up 0.5% at around $2,850, near a new record high, while WTI crude oil futures were trading near unchanged after giving back earlier gains.
Constellation Brands Sinks as Tariffs May Hit Beer Sales
27 minutes ago
Among the companies feeling the impact of the tariffs announced over the weekend is alcoholic beverage giant Constellation Brands (STZ).
Shares of the firm that imports Modelo and Corona beers from Mexico were down nearly about 2% in recent trading after falling as much as 8% earlier in the session.
The potential impact of the sanctions led Piper Sandler to downgrade the stock to “neutral” from “overweight,” and slash the price target to $200 from $245, according to reports.
Sales of Mexican beer have been a big driver of Constellation Brands’ recent results. Its Modelo Especial overtook Anheuser-Busch InBev’s (BUD) Bud Light as the U.S.’s best-selling beer in 2023.
Last month, Constellation Brands reported a 3% year-over-year rise in beer sales in its fiscal 2025 third-quarter results, but wine and spirits revenue slumped 14%. It also lowered its full-year outlook, warning that it sees more “normalized spending” by consumers in the future.
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Constellation Brands shares sank to their lowest level in more than four years this morning.
Bitcoin Levels to Watch as Price Drops on Tariff News
1 hr 26 min ago
Bitcoin (BTCUSD) has tumbled over concerns about the potential impacts of U.S. tariffs imposed on products coming from Canada, Mexico and China.
The cryptocurrency’s price has carved out two peaks around the same level between December and January, potentially forming a double top, a classic chart pattern that signals a downside reversal.
Investors should monitor crucial support levels on bitcoin’s chart around $92,000, $87,000, and $74,000, while also monitoring a key overhead area near $106,000.
Bitcoin was trading around $96,000 recently, down from last week’s highs of around $106,000.
Read the full technical analysis piece here.
Major Indexes on Track for Lower Open
2 hr 33 min ago
Futures tied to the Dow Jones Industrial Average were down 1.3%.
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S&P 500 futures were off 1.5%.
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Nasdaq 100 futures fell 1.7%.
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