Stocks Edge Down As Trump Vows To Change NAFTA

(RTTNews) - Stocks fell Monday amid renewed concerns about protectionist policies under new President Donald Trump.

Trump told a meeting of corporate executives he plans to impose a major border tax, although he also promised a massive tax cut for the middle class and companies.

The new president also signed an executive order to renegotiate NAFTA and is expected to sign an order indicating his intention to withdraw from the Trans-Pacific Partnership.

The S&P 500 fell 5 points, or 0.3%, to close at 2,265 and the Dow Jones Industrial Average shed 26 points, or 0.1%, to end at 19,800. The Nasdaq Composite Index edged down 2 points to close at 5,552.

Later in the week, trading may be impacted by reaction to reports on new and existing home sales, durable goods orders, and fourth quarter GDP.

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Monday. Japan's Nikkei 225 Index slumped by 1.3 percent, while China's Shanghai Composite Index rose by 0.4 percent.

Meanwhile, the major European markets all moved to the downside on the day. While the French CAC 40 Index dropped by 0.6 percent, the U.K.'s FTSE 100 Index and the German DAX Index both fell by 0.7 percent.