How the markets reacted to Trump's tariffs talk

Closing Indexes Summary Feb 28

Stronger-than-expected economic releases earlier lent support to markets, with the Institute for Supply Management's manufacturing index hitting a 13-year high.

New York Federal Reserve President William Dudley also added to the evidence that the US central bank under new chief Jerome Powell would seek to tighten monetary policy with four interest rates rises this year, more than previously expected.

U.S. President Donald Trump tweeted on Thursday that theU.S. steel and aluminum industries need "free, fair and smarttrade". The Nasdaq declined 1.9%, its biggest monthly percentage fall since October 2016. Eastern time. It was up as much as 0.6 percent and down as much as 1.2 percent in choppy trading earlier. In Asia, Japan's Nikkei 225 plunged 2.5 per cent, the Hang Seng in Hong Kong fell 1.5 per cent and South Korea's Kospi dropped 1 per cent. Some traders took that as a signal that the Fed may raise rates more quickly than expected.

Markets in South Korea and Thailand were closed for holidays on Thursday. But shares of companies that use lots of steel fell, as did exporters. The Nasdaq composite was up 10 points, or 0.1 percent, to 7,283.

Industrial companies that could be hurt by higher steel prices fell.

The Standard & Poor's 500 index was up 3 points, or 0.1 percent, to 2,717.

The yield on the 10-year Treasury rose to 2.85 per cent from 2.81 per cent late Thursday.

Man dead after shooting at White House
Secret Service agents raced to the site following the shooting at around 5pm United Kingdom time on Saturday. DC Police Department reported the man who fired the gun has been declared deceased.

The S&P 500 index finished down1.3% at 2,677, falling beneath a psychologically significant level at 2,678.

SEC CALLING: Overstock.com dropped 5 percent after the online retailer disclosed in a regulatory filing that the Securities and Exchange Commission asked the company last month for information about a $250 million offering by its blockchain subsidiary, tZero, related to digital tokens.

BUSY ECONOMIC DAY: A raft of reports on the economy provided a mixed picture. "There's uncertainty around that and it's going to continue for the next several months".

Investors are particularly interested in hearing where he sees interest rates this year.

Other reports showed that manufacturing is growing at its fastest rate in almost 14 years, while construction spending was weaker than economists expected last month. Over the final seven trading days of the month, the Dow did not move fewer than 164 points in either direction.

In the commodities markets, benchmark US crude rose 26 cents to settle at $61.25 per barrel. Brent crude, the worldwide standard, lost 90 cents to $63.83 a barrel. The euro rose to $1.2331 from $1.2255, and the British pound rose to $1.3790 from $1.3768. The Nasdaq fell 12 points, or 0.2 percent, to 7,260.

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