The three major indices of the U.S. stock market in New York started off mixed. As the tariffs on Mexico, Canada, and China announced by President Donald Trump are just a day away, investors are watching the market with caution.
On the 3rd (local time), the Dow Jones Industrial Average index recorded 40,937.5, an increase of 0.22% from the previous day at the New York Stock Exchange (NYSE). The S&P 500 index, focused on large-cap stocks, decreased by 0.06% to 5,951.02, and the Nasdaq index, centered on technology stocks, fell 0.34% to 18,783.87.
Investor uncertainty is growing as they monitor President Trump's tariff policies. Earlier, President Trump stated that starting from the 4th (local time), he would impose a 25% tariff on Mexico and Canada as scheduled and increase the existing 10% tariff on China by an additional 10%.
However, there is still room for negotiation. U.S. Secretary of Commerce Howard Rutnick responded during an interview with Fox News the day before when asked whether the tariff rates on Mexico and Canada could be reduced, saying, "There is certainly a possibility." On the other hand, he noted that the additional tariff of 10% on imports from China has been "set."
U.S. Treasury Secretary Scott Bensent also mentioned in an interview with CBS News that Mexico is considering imposing tariffs on China to align with the U.S., suggesting that such a plan could help reduce the U.S. tariff rates on Mexico.
U.S. Treasury bond yields are showing an upward trend. The yield on the 10-year U.S. Treasury bond, a global bond yield benchmark, rose by 1 basis point (1bp = 0.01 percentage points) to 4.24%, while the 2-year U.S. Treasury bond, sensitive to monetary policy, is trading around 4.02%, up 3 basis points from the previous day.