Metals and mining ETF tumbles after Trump details tariffs policy
The largest exchange-traded fund to track the metals and mining sector fell on Thursday, after President Donald Trump outlined a policy on tariffs that is scheduled to go into effect in 15 days. The SPDR S&P Metals & Mining ETF sank 1.9%, with metal stocks leading the way lower. United States Steel Corp. shed 2.6% while AK Steel Holding was down 3.4% and Nucor Corp. lost 2.9%. Century Aluminum sank 5.9%; it has dropped in nine of the past 13 days. Trump's tariff policy, which has been met with opposition from members of his own party, includes tariffs of 25% on steel and 10% on aluminum. The Dow Jones Industrial Average rose 0.2% while the S&P 500 was up 0.3% and the Nasdaq Composite Index jumped 0.3%.
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