Markets Right Now: Stocks dip as US, Mexico announce tariffs

NEW YORK (AP) — The latest on developments in financial markets (all times local):

11:45 a.m.

Stocks are mostly lower after the Trump administration announced tariffs on steel and aluminum imports from Europe, Canada and Mexico.

Industrial companies fell Thursday as investors anticipated higher manufacturing costs. Deere lost 2.3 percent.

U.S. steel and aluminum companies rose. U.S. Steel gained 3.7 percent.

Mexico said it would put tariffs on U.S. goods while the EU has said it could put duties on peanut butter and orange juice. U.S. consumer products makers fell.

The S&P 500 lost 4 points, or 0.2 percent, to 2,719.

The Dow Jones industrial average fell 151 points, or 0.6 percent, to 24,516. Technology companies climbed. The Nasdaq gained 25 points, or 0.3 percent, to 7,487.

Bond prices rose. The yield on the 10-year Treasury fell to 2.84 percent.

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9:35 a.m.

Stocks are off to a mostly lower start on Wall Street as losses for banks and consumer products makers offset gains for technology companies.

Deutsche Bank sank 6.2 percent in early trading Thursday after the Wall Street Journal reported that the German bank's U.S. operations were in "troubled condition."

Procter & Gamble lost 1.2 percent.

U.S. steel makers were rising on reports that the White House plans to impose tariffs soon on steel and aluminum imports from Europe.

The S&P 500 index fell 5 points, or 0.2 percent, to 2,718.

The Dow Jones industrial average fell 110 points, or 0.4 percent, to 24,554. The Nasdaq climbed 11 points, or 0.1 percent, to 7,473.

Bond prices rose. The yield on the 10-year Treasury fell to 2.84 percent.

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