Dow, S&P 500, Nasdaq slide as tariff fears revive to kick off huge Fed week

Netflix (NFLX), Disney (DIS) and different media shares fell in early commerce after President Trump vowed to slap 100% tariffs on all films produced exterior the US.

The duties will shield Hollywood, which is being “devastated” as different international locations supply movie producers incentives for shoots, Trump mentioned in a publish to Reality Social.

“The Film Business in America is DYING a really quick demise,” he wrote within the Sunday publish. “This can be a concerted effort by different Nations and, subsequently, a Nationwide Safety risk. It’s, along with every thing else, messaging and propaganda!”

Whereas Trump gave few particulars on how the tariffs might be carried out, the transfer is seen as a threat for the key media gamers, which all shoot movie and TV tasks in abroad areas.

Netflix (NFLX) fell greater than 4%, whereas Walt Disney (DIS) inventory dropped over 2%. Shares of Warner Bros. Discovery (WBD), Amazon (AMZN), and Paramount World (PARA) additionally declined.

Reuters reviews:

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