A tariff of up to 271% is being wielded like a 'big stick' against photovoltaics! The usa plans to take action on solar energy imports from Southeast Asia.
The US Department of Commerce preliminarily ruled on Friday, USA eastern time, that solar energy products imported from Southeast Asia are being unfairly sold in the USA at prices below production costs, and proposed tariffs of up to 271% to counteract this practice.
U.S. stock market closes | All three major indexes fall, Dell plummets over 12% after earnings; Chinese concept stocks warm up, Jinlong Index rises by nearly 3%; bitcoin rebounds sharply, microstrategy rises by nearly 10%.
The Dow ended a five-day rally, falling from record highs along with the S&P; small cap stocks struggled to rebound. Dell and hp inc plummeted over 10% after earnings reports. Chinese concept stocks rebounded by nearly 3%, while Ideal autos surged almost 7%.
US stocks closed | The three major indices rose together, with Dow Jones and S&P hitting new highs; tariff threats dragged down auto stocks, general motors fell 9%
Waiting for PCE inflation, the Fed's November minutes support gradual rate cuts, temporarily suppressing US bond yields and the dollar while gold rallies. The Dow turns higher at the end of the day, hitting new highs for three consecutive days, while small cap stocks fall from the highest level in six days, with chip stocks down more than 1%, but nvidia rebounds by 0.7%. Tesla reverses its decline, Nio falls by 7.7%, Amgen's weight loss drug once fell by more than 12%, and Dell falls more than 9% after hours.
U.S. stocks closed higher with all three major indices rising. The Dow, S&P, and Russell 2000 all hit record highs, while nvidia fell more than 4% against the market; bitcoin fell below $93,000, while microstrategy dropped more than 4%.
Funds continue to flow out of the technology sector, rotating into cyclical stocks. The Dow rose more than 400 points, while the Russell small cap stocks rose by 2.5% at one point. The S&P hit a new intraday high before narrowing its gains. Nvidia dropped over 4% to a three-week low, Tesla fell by nearly 4%, Nio dropped by 3.6%, but Alibaba rose by nearly 3%.
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