Dow retreats as tech stocks sink and Buffett announces resignation
Trump tariff talk rattles markets; Dow dips, Netflix and Apple slump.
The Dow Jones ended Monday's trading down 0.2%, losing the previous gains made after US Treasury Secretary Scott Bessent attempted to reassure investors about the Trump administration's tariff policy.
However, the president's new statements about possible tariffs hit the tech sector, especially Netflix, which fell along with other streaming market players.
Among the Dow's components, Apple (-3.2%) and Chevron (-2.2%) lost the most, while IBM and UnitedHealth managed to show growth of more than 1%.
Particular attention was focused on Berkshire Hathaway, whose shares lost 5.1% and fell below the 50-day average, a technical sell signal. The reason was Warren Buffett's announcement of his resignation as CEO. Greg Abel will take his place at the end of the year.
Investors are also preparing for a key decision by the US Federal Reserve: the meeting starts today, and rates are expected to remain unchanged - despite pressure from Donald Trump, who is calling for a cut.
Recently we wrote that the U.S. Dollar Index (DXY) is caught between conflicting forces this week, softening short-term yields, firming long-term rates, and better-than-expected economic data.
