U.S. equities and stock exchange traded funds slipped Monday after President Donald Trump’s comments on the country’s trade and tax policies weighed on investors’ outlook.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), were down 0.3% Monday.
Meanwhile, safe-haven assets attracted increased interest, with gold bullion up 0.9% to $1,215.3 per ounce and benchmark yields on 10-year Treasury notes dipped to 2.401%.
Trump met with prominent American manufacturers at the White House and stated he would cut regulations and reduce corporate taxes to bolster the economy, reports Yashaswini Swamynathan for Reuters.
Trump said he would cut taxes “massively” for middle class and companies, reduce regulations by at least 75% and impose a “very major” border tax on companies that move overseas, the Wall Street Journal reports.