Mexico Tariff Threat Send Stocks Tumbling

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as Mexico tariff threat send stocks tumbling. Stocks in heat map are based on the top 10 holdings of each sector ETF. Click on each picture to zoom in. Below is a summary of today’s action on Wall Street provided by CNBC:

Dow set to drop more than 150 points after Trump announces tariffs on Mexican imports

U.S. futures fell Thursday evening stateside after U.S. President Donald Trump announced tariffs on all Mexico imports. Dow Jones Industrial Average futures dropped 220 points as of 8:19 p.m. ET Thursday, implying an opening decline of 200.88 points for the benchmark index on Friday.

The S&P. 500 (SPY) dropped-1.32% today. Sector decliners led advancers 9 to 2 as shown below in the sector graph. Communication services (XLC), consumer discretionary (XLY), consumer staples (XLP), energy (XLE), financials (XLF), industrials (XLI), materials (XLB) and technology (XLK) each had losses of more than 1%. Healthcare (XLV) suffered a minor loss of less than 1%. Real estate (XLRE) and utilities (XLU) each squeezed out small gains of less than 1%.

The Dow Jones index gave back 354 points (-1.41%) to close at 24,815. The Nasdaq plummeted 114 points (-1.51%) to settle at 7,453.

Mexico Tariff Threat Send Stocks Tumbling

Stocks sank on Friday as President Trump’s threat of tariffs against Mexico & an ongoing trade war with China sent stocks tumbling. The Dow subtracted 3% this week, a six week losing streak. The S&P 500 and Nasdaq have a four-week losing streak. President Trump announced on Thursday night he would set a 5% tariff on all Mexican imports from June 10th until illegal immigration across the southern border was stopped.

Key Takeaways…

I took the following CNBC screenshots this morning regarding US imports from Mexico and an ugly May:

Notable S&P 500 Movers…

Below I’ve highlighted some notable S&P movers (both winners & losers).

Credit: Sector Graph provided by Sector SPDR app. Sector breakdown provided by Charles Schwab. Sector heat map provided by finviz. Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.

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S&P 500 Sector Graph

Mexico Tariff Threat Send Stocks Tumbling

S&P 500 (SPY)

Mexico Tariff Threat Send Stocks Tumbling

Communication Services (XLC)

Mexico Tariff Threat Send Stocks Tumbling

Consumer Discretionary (XLY)

Mexico Tariff Threat Send Stocks Tumbling

Consumer Staples (XLP)

Mexico Tariff Threat Send Stocks Tumbling

Energy (XLE)

Mexico Tariff Threat Send Stocks Tumbling

Financials (XLF)

Mexico Tariff Threat Send Stocks Tumbling

Real Estate (XLRE)

Mexico Tariff Threat Send Stocks Tumbling

Healthcare (XLV)

Mexico Tariff Threat Send Stocks Tumbling

Industrials (XLI)

Materials (XLB)

Technology (XLK)

Mexico Tariff Threat Send Stocks Tumbling

Utilities (XLU)

S&P 500 Sector Heat Map

 

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