STOCKS/ECONOMY
-Stock futures are sharply lower as investors respond to tariffs about to go into place. Shares of U.S. automakers and alcohol importers are leading the declines.
-President Trump slapped a 25 percent tariff on goods from Mexico and Canada. Energy imports from Canada received a lower 10 percent tariff. He also placed a 10 percent levy on imports from China.
-The yield on the 10-year Treasury bond is down to 4.50 percent.
-Gold is at the $2,849 per ounce level. Bitcoin is down to the $95,000 level.
-Asian markets closed lower today, led by a 2.7 percent selloff for the Nikkei. The Hang Seng closed just below breakeven, and the Shenzhen sold off by 1.3 percent.
OIL/ENERGY
-U.S. crude prices are up and at the $74 a barrel level on concerns there may be some supply disruptions connected to the tariff battle with Canada.
-Gasoline prices are down to $3.09 a gallon, national average.
TARIFF TUMULT
-Here's the damage for the major U.S. automaker stocks in the premarket: GM (GM) is down 6 percent and Ford (F) is down 3 percent.
-Constellation Brands (STZ), which is a major importer of Mexican alcohol products, is down 4 percent in the premarket.
-But the tariff issue is a positive for steelmakers. Nucor (NUE) shares are up 2 percent in the premarket. Steel Dynamics (STLD) shares are up 3 percent.
CHICKEN TONIGHT
-Tyson Foods (TSN) reported better than expected quarterly profits and a sales increase of 2.3 percent over last year. Its shares are up 4 percent in the premarket.
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