U.S. stocks fell and Treasury yields edged lower as rising trade tensions outweighed easing political turmoil in Italy. The dollar advanced.
The S&P 500 Index dropped for the second time in three days after Commerce Secretary Wilbur Ross said the U.S. will impose levies on steel and aluminum from the European Union, Mexico and Canada. Mexican and EU officials said they will retaliate. A rally in technology shares blunted the decline as did reports that Italy might install a pro-euro finance minister.
The S&P 500 Index fell 0.4 percent as of 12:10 p.m. New York time. The Dow Jones Industrial Average dropped 0.9 percent. The Nasdaq Composite Index rose 0.1 percent.