Stocks fell in midday trading Monday, with the
Dow Jones industrial average down as much as 446 points, amid reports of protectionist policy pushes by the Trump administration that would ramp up trade tensions on multiple fronts.
New rules
that would curb investment in American technology firms are reportedly in the works within the Treasury Department.
The Wall Street Journal reported Sunday that the initiatives would block companies with more than 25% Chinese ownership from buying "industrially significant" technology companies. But Treasury Secretary Steven Mnuchin said Monday on Twitter that the rules could be applied to "
all countries that are trying to steal our technology."
Also Monday, Wisconsin's
Harley-Davidson tumbled more than 6% after saying it
would move some production out of the US amid retaliatory tariffs the company said would bring about a "tremendous cost increase." The move comes after the European Union pushed back on Trump's steel and aluminum tariffs
with its own duties on politically significant US products like motorcycles.