Trump Calls For More Tariffs, Federal Reserve Minutes On Deck: What’s Driving Markets Wednesday?

All three major U.S. indices are red in Wednesday’s midday trading as investors weighed President Donald Trump’s proposed tariffs on auto imports, pharmaceuticals and semiconductors. An official announcement is expected as soon as April 2. 

Markets are anticipating the release of the most recent FOMC minutes later in the trading day which will give further insight into the Federal Reserve’s policy outlook. The Fed held interest rates steady at its last meeting and has signaled it is in no hurry to lower rates. 

Natural gas futures were up 5%, closing in on a two-year high, as extreme cold temperatures across the U.S. drove higher heating demand and froze oil and gas wells, disrupting production. Adding to the pressure on prices are record-level gas flows to LNG export plants. The United States Natural Gas Fund (NYSE:UNG) ETF was up more than 5% midday Wednesday. 

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