U.S. Steel, AK Steel shares drop after China trade deal [MarketWatch]
AK STEEL HOLDINGS (AKS)
Last ak steel holdings earnings: 2/20 07:00 am
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Source: MarketWatch
U.S. Steel, AK Steel shares drop after China trade deal Shares of U.S. Steel Corp. X, -3.67% dropped 1.1% and AK Steel Holding Corp. AKS, -3.30% shed 2.6% in premarket trade Monday, after the Treasury Secretary Steven Mnuchin said over the weekend that the Trump administration would delay implementing tariffs on Chinese goods. Over the weekend, China agreed to buy larger amounts of U.S. goods, but didn't agree to a specific target, while U.S. Trade Representative Robert Lighthizer said the U.S. may still resort to tariffs. The news comes three months after the Trump administration recommended tariffs on steel and aluminum imports, which sent steel stocks surging on Feb. 16. Since then, U.S. Steel's stock had tumbled 18.5% through Friday, while AK Steel shares had plunged 21.1% and the S&P 500 SPX, +0.86% had eased 0.7%.
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