Wall Street stocks in the United States (US) fell after a positive increase last week following good NFP employment data published on Friday.
All three major indexes fell, driven by the White House threatening the Federal Reserve (Fed) to cut interest rates.
The S&P 500 index fell 0.6%, the Dow Jones fell 0.5% while the technology-focused Nasdaq weakened 0.7%.
Fed Chairman Jerome Powell will hold a two-day meeting with FOMC members with the interest rate decision to be announced early Thursday morning.
The Fed is also expected to maintain a steady interest rate amid global uncertainty due to the inflation threat from US President Donald Trump's tariffs.
In addition, the fall in major indexes was also driven by Trump's latest action to impose a 100% tariff on all foreign-produced films in the US.
This situation occurred after Trump claimed that the Hollywood film industry was in a state of emergency due to the influence of films produced in other countries.
He accused foreign countries of luring US filmmakers to work abroad, thus threatening US national security.
Trump has authorized the Department of Commerce and the US Trade Representative to initiate a 100% tariff process on foreign films to the US.
However, it is unclear how this foreign film tariff will be implemented given that films are distributed through cinemas, television and live streaming such as Netflix.
In conclusion, investors remain cautious about the good US-China trade negotiations and await the Federal Reserve policy meeting this week.
