[In-depth] Global market wrap-up _ 060419
- 5 years ago
증시 대담
It's time now for an in-depth look at the global market action today, and for that I'm joined on the line by Mr. Daniel Yoo, global strategist at Kiwoom Securities.
Mr. Yoo, thanks for coming on today.
You're welcome.
Stocks on Wall Street were mixed, but mostly down on Monday. Investors still worried about the trade war, and major tech stocks, especially Google, feeling the pressure of potential regulation. Take us through the global trade.
Tech stocks fell on Monday, June's first day of trading, amid reports that the U.S. government is planning to target a host of big companies in the industry with antitrust and business practice probes. Shares of Alphabet, Amazon, Facebook and Apple all weighed on the market during Monday's session.
The Nasdaq Composite dropped 1.6% to enter correction territory, closing more than 10% below its record high set in late April at 7,333.02. The S&P 500 slid 0.3% to 2,744.45 while the Dow Jones Industrial Average ended the day just above breakeven at 24,819.78.
China continues to show correction. Trade War issue
However, Korean market showed strong recovery on Monday, and today also fairly stable.
President Trump has warned that starting June 10th the U.S. is going to impose tariffs on all goods from Mexico starting at 5 percent and gradually going up to 25 percent. There's significant opposition to this within the U.S. Do you think they'll go ahead with these tariffs, or what do you see happening in Washington?
Business advocates, companies and trade groups are ringing alarm bells about potential fallout from the Trump administration's decision to threaten Mexico with tariffs.
The United States plans to impose a 5% tax on all goods imported from its Southern neighbor beginning June 10 unless "the illegal migration crisis is alleviated," President Donald Trump said in a statement Friday. The tariffs would quickly escalate, the administration said, potentially reaching 25% by October.
The Mexico tariffs, along with a move by the White House on Friday to strip India of of a designation that made the country exempt from certain tariffs, opened up a new front in Trump's trade policy.
Trump is facing pushback from many sides, including Democrats and Republicans in Congress, corporate leaders, and retailers who have consistently warned that the price of tariffs is ultimately passed on to consumers.
"Imposing tariffs on goods from Mexico is exactly the wrong move," said Neil Bradley, chief policy officer for the US Chamber of Commerce, which calls itself the world's largest pro-business advocacy organization.
The costs "will be paid by American families and businesses without doing a thing to solve the very real problems at the border," he added.
The Chamber said Friday it was exploring legal options to stymie the policy.
The Bank of Korea says the economy contracted by 0.4% in the first quarter compared to the quarter before. This is the worst performance in 10 years. It looks like the Kospi was up and down tod
It's time now for an in-depth look at the global market action today, and for that I'm joined on the line by Mr. Daniel Yoo, global strategist at Kiwoom Securities.
Mr. Yoo, thanks for coming on today.
You're welcome.
Stocks on Wall Street were mixed, but mostly down on Monday. Investors still worried about the trade war, and major tech stocks, especially Google, feeling the pressure of potential regulation. Take us through the global trade.
Tech stocks fell on Monday, June's first day of trading, amid reports that the U.S. government is planning to target a host of big companies in the industry with antitrust and business practice probes. Shares of Alphabet, Amazon, Facebook and Apple all weighed on the market during Monday's session.
The Nasdaq Composite dropped 1.6% to enter correction territory, closing more than 10% below its record high set in late April at 7,333.02. The S&P 500 slid 0.3% to 2,744.45 while the Dow Jones Industrial Average ended the day just above breakeven at 24,819.78.
China continues to show correction. Trade War issue
However, Korean market showed strong recovery on Monday, and today also fairly stable.
President Trump has warned that starting June 10th the U.S. is going to impose tariffs on all goods from Mexico starting at 5 percent and gradually going up to 25 percent. There's significant opposition to this within the U.S. Do you think they'll go ahead with these tariffs, or what do you see happening in Washington?
Business advocates, companies and trade groups are ringing alarm bells about potential fallout from the Trump administration's decision to threaten Mexico with tariffs.
The United States plans to impose a 5% tax on all goods imported from its Southern neighbor beginning June 10 unless "the illegal migration crisis is alleviated," President Donald Trump said in a statement Friday. The tariffs would quickly escalate, the administration said, potentially reaching 25% by October.
The Mexico tariffs, along with a move by the White House on Friday to strip India of of a designation that made the country exempt from certain tariffs, opened up a new front in Trump's trade policy.
Trump is facing pushback from many sides, including Democrats and Republicans in Congress, corporate leaders, and retailers who have consistently warned that the price of tariffs is ultimately passed on to consumers.
"Imposing tariffs on goods from Mexico is exactly the wrong move," said Neil Bradley, chief policy officer for the US Chamber of Commerce, which calls itself the world's largest pro-business advocacy organization.
The costs "will be paid by American families and businesses without doing a thing to solve the very real problems at the border," he added.
The Chamber said Friday it was exploring legal options to stymie the policy.
The Bank of Korea says the economy contracted by 0.4% in the first quarter compared to the quarter before. This is the worst performance in 10 years. It looks like the Kospi was up and down tod