U.S. markets slipped as investors watched upcoming Fed decisions and rising trade tensions, with the S&P 500 ending a nine-day winning streak.
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00:00Here are our top stories. We start with U.S. markets under pressure.
00:05As investors eye the looming Federal Reserve meeting and growing trade tensions,
00:10the S&P 500 fell 0.6% on Monday, snapping its 90-winning streak the longest in two decades.
00:19Meanwhile, the tech-heavy Nasdaq Composite dropped 0.7%, while the Dow slipped 0.2%.
00:25Investor sentiment took a hit after two announcements from President Donald Trump.
00:31First, a plan to impose a 100% tariff on foreign-made movies.
00:37Several movie and television production stocks fell sharply right after this announcement,
00:41but subsequently part losses.
00:43The second, Trump said he has no plans to speak with Chinese President Xi Jinping this week,
00:49adding to the uncertainty surrounding trade talks.
00:52Markets have been volatile since Trump's first round of tariffs announcements on April 2nd,
00:58though both he and Treasury Secretary Scott Besson say they expect trade deals could come as early as this week.