(Reuters) – The New York Stock Exchange opened on Monday in a context of persistent concerns about the American economy and the impact of customs duties wanted by Donald Trump.

In the first exchanges, the Dow Jones index lost 463.52 points, or 1.08%, at 42,338.20 points and the Standard & Poor’s 500, wider, fell from 1.44% to 5,686.87 points.

The Nasdaq Composite gives in 1.96% or 356.56 points, to 17,839.66 points.

American customs duties continue to arouse the fear of a slowdown in the American economy among investors.

During an interview on Sunday, President Donald Trump refused to predict whether the United States could be confronted with a recession, at a time when investors fear that its fluctuating trade policies with regard to Mexico, Canada and China will slow down consumers’ demand and business investment.

Customs duties announced by China in retaliation on certain American imports must also come into force on Monday.

HSBC lowered the note of American actions on Monday, citing uncertainty around customs duties, while reconnecting with optimism on European actions with regard to the probable German budget impetus.

“Investors are starting to realize that Trump policies could have negative consequences, even for the inhabitants of the United States where the prospect of a recession is now mentioned,” said Dan Coatsworth, investment analyst at AJ Bell.

The actions of the main banks of Wall Street fall at the opening of the markets, penalized by fears about the American economy.

JPMorgan Chase, Goldman Sachs and Bank of America abandon approximately 3%. The banking index has dropped by more than 8% since the beginning of March.

Tesla loses 5.5% after UBS reduced her forecasts for the deliveries of the car manufacturer in the first quarter and lowered her price objective on the title.

(Written by Diana Mandiá and Mara Vîlcu, edited by Kate Entringer)

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