Wall Street Declines After February Manufacturing Data
Wall Street's main stock indexes declined on Monday, reversing premarket gains after data showed that new orders at U.S. factories fell in February, suggesting concerns that President Donald Trump's tariffs could pressure production. The ISM survey showed manufacturing was steady in February, but a measure tracking forward-looking new orders contracted to 48.6 last month from 55.1 in January. Recent reports of softening consumer demand have spurred fears of a slowdown as markets prepare for higher inflation once the Trump administration's tariff policies take full effect.
- The decline in new orders at U.S. factories could be a harbinger of economic weakness, particularly if the tariffs imposed by President Trump's administration are not lifted or reduced.
- How will the ongoing trade tensions with China impact the global economy and the stock market in the coming months?