MOLINE- Every Monday, Investment Advisor Mark Grywacheski joins us live on Good Morning Quad Cities to talk about a number of financial issues.
The big topic on Monday, March 5 will be President Donald Trump's tariffs plan on steel and aluminum. Sunday, March 4, the U.S. is expected to place a 25% tariff on steel imports and a 10% tariff on aluminum. We'll discuss how that is impacting the stock market.
Friday morning, March 2, national stocks were all down. The Nasdaq was down by more than 90 points. The Dow was down by more than 400, and the S&P 500 was down close to 40 points.
Local stocks were also affected by President Trump's announcement. Arconic was down by about $0.37. Deere and Company and Caterpillar stock both dropped by more than $4 at the end of Thursday, March 1. We'll ask Grywacheski whether local manufacturers will continue to be affected by the President's plan.