US markets open flat; S&P 500 down 0.13%, Dow Jones down 0.35%

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US markets opened flat with S&P 500 opening 0.13 percent lower at 6119.97 and Dow Jones opening 0.35 percent lower at 44,398.73.

U.S. President Donald Trump on February 18 had indicated that he might expand tariffs on imports to cover automobiles, pharmaceuticals, and semiconductors.

Trump had mentioned that the tariffs could be set at approximately 25% and might increase significantly over the next year. While he did not specify whether the measures would apply to all imported vehicles or target specific countries, he indicated that the tariffs could take effect as early as April 2.

Investors are also awaiting for the release of the FOMC meeting minutes from January on Wednesday which will be out at 2 p.m. ET. It is expected to provide deeper insights into monetary policy and the Fed’s stance on maintaining steady interest rates.

Among the top movers on S&P 500 were Garmin Energy, Devon Energy Corp, Super Micro Computer Inc, Occidental Petroleum Corp, and others.

Among the top losers on S&P 500 were Celeanese Corp, Cadence Design Systems, Arista Networks, Axon Enterprise, and others.

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