Wall Street Falls Again, Hollywood Industry Will Be Harmed by Tariffs!

thecekodok


US Wall Street stocks fell after recording the same decline yesterday.


All three major indexes declined as the market awaited comments by Federal Reserve (Fed) Chairman Jerome Powell at the latest FOMC meeting.


Concerns also arose after the White House government increased pressure on the Fed central bank to cut interest rates.


The Dow Jones Index fell 0.24%, the S&P 500 fell 0.64% while the technology-focused Nasdaq weakened 0.74%.


Furthermore, the launch of the main indexes was also boosted by US President Donald Trump's action to impose a 100% tariff on all films produced outside the US.


This situation has made the Hollywood industry worried about the announcement, which has the potential to threaten the achievements of the global film industry.


Trump met with Hollywood ambassador Jon Voight to discuss the best initiatives to revive local film and TV production, including federal tax incentives.


Trump also said he would meet with film industry officials first to convince them of the idea of ​​the following tariffs.


The White House declined to make a final decision, but said Hollywood film production was facing a sharp decline compared to the previous year.


The implementation of the tariffs sent Netflix shares down 2%, leading declines in other media stocks such as Disney, Cinemark and Imax.


Investors remained wary of Trump's tariffs ahead of the Fed's monetary policy decision this week, while continuing to await developments in US-China talks.


In particular, US stock market trading volume recorded $13.67 billion compared to an average of $18.68 billion over the full 20 trading days.

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