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Wall Street indices stabilized after hind for exclusion of Canada and Mexico from the steel duties

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Wall Street indices did not found a single direction on Wednesday trading after the White House hinted that Canada and Mexico could be exempted from the duties proposed by US President Donald Trump. The blue chip index Dow Jones Industrial Average closed the the session in red with a fall of 0.33% to 24,801.36 points. The broader S&P 500 dropped slightly by 0.05% to 2,726.80 points. And the technological Nasdaq added 0.33% to its value to 7,396.65 points.
White House spokeswoman Sarah Sanders said that Canada and Mexico, two of the key US trading partners, may be excluded from the plan of imposing duties on steel and aluminum import. Trump is expected to provide more details on the introduction of the duties on Thursday or Friday.
Overall, the markets earlier reacted sharply to the news that Trump’s chief economist advisor Gary Cohn had resigned. Gary Cohn is considered to be a person who supports more business-friendly policies and is therefore liked by Wall Street. His withdrawal has sparked fears that USA will enter in trade wars in the near future.
The stocks of major metal consumers, such as General Motors and Boeing, declined by 0.5%, while Caterpillar erased 1.5% from its market capitalization. H&R Block has registered a share appreciation of nearly 11.5% after the company posted a lower-than-expected loss for the previous quarter.
The US dollar index, which measures the value of USD against a basket of six major currencies, rose by 0.18% to 89.59 points.
The raw materials market not only remained in negative territory at the end of the session but also deepened its downward movement. The futures on US light WTI crude oil with delivery in April fell by 2.09% to 61.29 USD per barrel. The decrease in Brent variety was 2.01% to 64.47 USD per barrel.
The gold lost 0.75% of its value to 1,325.20 USD per ounce.