The Dow Jones Industrial Average was being dragged firmly lower on Monday, with shares of Boeing Co. serving as the biggest weight on blue chips. Boeing’s stock was down 1.9%, or $6.49, cutting about 40 points from the Dow in early trade. A $1 move in any one of the Dow’s 30 components equates to a 6.89-point move. The Dow was most recently down 0.5% at 24,429, the S&P 500 index , meanwhile, was off 0.5% at 2,676, while the Nasdaq Composite Index was off 0.7% at 7,205. U.S. equities have been under pressure on news that President Donald Trump will impose import tariffs later this week on steel and aluminum, raising the specter of a global trade war. The fear is that many large U.S. corporations would see costs increase in such an environment.
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