The S&P 500 fell to snap its longest streak of gains in 20 years on Monday as investors assessed U.S. President Donald Trump's latest tariff announcement ahead of the Federal Reserve's monetary policy decision later this week. On Sunday, Trump announced a 100% tariff on movies produced outside the U.S. but provided no details on how such levies would be implemented.
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00:00And other than Asia market, we're going to be focusing on the US market as well.
00:05As you can see, before we're going to share with the US market, the S&P 500 fell to snap its longest streak of gains in 20 years on Monday
00:13as investors assess US President Donald Trump's latest tariff announcement ahead of the Federal Reserve monetary policy decision later this week.
00:22On Sunday, Trump announced a 100% tariff on movies produced outside the US but provided no details on how such levy would be implemented.
00:36Since Trump announced his first round of tariffs on April 2nd, with the S&P 500 initially dropping nearly 15%,
00:43only to stabilize and climb for the last nine straight sessions, its longest streak since 2004.
00:49On Monday, Treasury Secretary Scott Besson said Trump's tariff, tax cut and deregulation agenda would work together to drive long-term investment to the US.
01:00Any markets could overcome any short-term turbulence.
01:03So I think the market today is mostly reflecting the big news from Warren Buffett over the weekend.
01:11We see that in Berkshire Hathaway stock and the rest of the market is just sort of finding its footing for the week.
01:18So big news that Warren Buffett plans do step down.
01:22And as we said that we see it in the stock itself, it is a big message across the markets and across Wall Street for such an oracle to be planning an exit.
01:34According to preliminary data, the S&P 500 lost 35.47 points or 0.62% to end at 5,651.20 points,
01:46while the Nasdaq Composite lost 138.72 points or 0.73% to 17,839.01.
01:55The Dow Jones Industrial Average fell 102.10 points or 0.25% to 41,215.33.