Wall Street Ends Mixed After US, EU Trade Deal
(MENAFN) The New York Stock Exchange concluded Monday with varied outcomes following the announcement of a new trade agreement between the United States and the European Union, which includes a 15% levy on products from the EU entering American markets.
The Dow Jones Industrial Average slipped by 0.14%, shedding 64.36 points, to close at 44,837.56.
Conversely, the Nasdaq Composite gained 0.33%, adding 70.27 points to reach 21,178.58.
Meanwhile, the S&P 500 inched upward by 0.02%, or 1.13 points, finishing the session at 6,389.77.
This uneven market reaction came in the wake of the transatlantic accord disclosed on Sunday.
According to the terms, Washington will implement a 15% duty on the majority of EU imports — a figure that is half of the originally proposed 30%.
In addition, the EU is set to allocate $600 billion in American investments and intends to buy $750 billion worth of U.S. energy resources and defense products.
U.S. President Donald Trump characterized the agreement as "great" for both sides, emphasizing that it would draw the two economies "closer together."
European Commission chief Ursula von der Leyen applauded the outcome of what she called a "tough negotiation," remarking, "We have a deal; we have a trade deal between the two largest economies in the world, and it's a big deal."
Later on Monday, Trump mentioned that countries without a renewed trade arrangement with the U.S. might face a general import tariff ranging between 15% and 20%.
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