(Reuters) – The New York Stock Exchange opened on Monday while the American Federal Reserve (FED) meets this week and that uncertainty persists as to the prospects of an agreement between Washington and Beijing to avoid a major trade war.

The announcement by the White House Sunday of a surcharge on the film industry also helped to spoil the mood on the markets.

In the first exchanges, the Dow Jones index loses 212.04 points, or 0.51%, at 41,105.39 points and the Standard & Poor’s 500, wider, fell from 0.71% to 5,646.56 points.

The Nasdaq Composite gives way 0.84% ​​or 151.90 points, to 17,825.83 points.

The week begins with losses to Wall Street after a sharp increase on Friday thanks to the solid data on American employment, investors now adopting a more cautious tone before the FED monetary policy decision on Wednesday and holding their breath on any progress in terms of commercial policy.

US President Donald Trump told journalists on Sunday that US officials were in talks on business issues with many countries, including China, but that he was not planned to meet Chinese President Xi Jinping this week.

In this context where progress in customs duties between the two largest economies in the world are struggling to materialize, the announcement by Donald Trump, on Sunday, of customs duties of 100% on all films produced outside the United States is not likely to reassure.

“The problem is that almost all studios transfer tons of production abroad to reduce costs,” said Barton Crockett, analyst at Rosenblatt Securities, stressing that this policy could lead to retaliatory measures against American content abroad.

On the monetary policy front, the Fed attracts all eyes this week while the American central bank should leave its unchanged rates on Wednesday in a tense climate with the White House, which pushes a drop in loan costs and has repeatedly targeted the boss of the institution, Jerome Powell.

On the program of a session without much catalyst, investors await the publication of the final ISM index in the services sector at 2:00 p.m. GMT.

At the values, Netflix, Walt Disney, Comcast and Warner Bros Discovery fell from 1.3% to 3.9% after Donald Trump’s announcement of customs duties of 100% on all films produced outside the United States. The actions of cinemas operators such as Cinemark and IMAX fell for their part of 6.9% and 4.9%, respectively.

Berkshire Hathaway cedes 5.3% while Warren Buffett announced on Saturday that he would resign from his post as director general of the conglomerate.

The American manufacturer of Skechers sneakers, on the other hand, climbs 25% after accepting a buy -back offer from the 3G capital investment company as part of a transaction worth $ 9.4 billion.

(Written by Diana Mandiá, edited by Kate Entringer)

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