Mixed Trends in U.S. Stock Market Ahead of 'Reciprocal Tariffs'... 60% of Korean Manufacturing Companies 'Under Tariff Influence' [Morning Briefing]

◆ Dow & S&P Rise, Nasdaq Falls Amid Tariff Concerns

Ahead of the reciprocal tariffs imposed by the Donald Trump administration scheduled for the 2nd, major indices in the New York stock market showed mixed trends. On March 31 local time, the Dow Jones index closed at 42,001.76, up 1% from the previous session, the S&P 500 index rose 0.55% to 5,611.85, and the Nasdaq index fell 0.14% to 17,299.29. Large tech stocks like Nvidia and Tesla fell sharply in early trading, but as uncertainties about the Trump administration's tariff policy somewhat cleared, rebound buying flowed in, reducing the decline. Amid increased volatility due to recession fears, international gold prices hit a record high, rising 0.66% to $3,121.69 per ounce.

◆ White House: 'Reciprocal Tariffs Imposed on All Unfair Countries'

The White House reaffirmed its position to announce country-specific reciprocal tariffs on the 2nd. President Trump once again stated regarding reciprocal tariffs, "We will start with all countries," and mentioned that the 25% automobile tariff announced on the 26th of last month is also non-negotiable. White House spokesperson Caroline Levitt also emphasized to reporters on the 31st local time, "Now is the time for reciprocity," and "All countries that have treated Americans unfairly should expect tariffs." However, specific details such as the countries subject to tariffs were not disclosed, and it was only stated that President Trump would announce them.

◆ 60% of Manufacturing Companies 'Under U.S. Tariff Influence'... 'Concerns Over Decrease in Delivery Volume'

Concerns are emerging that the entire domestic manufacturing industry is directly or indirectly exposed to tariff risks. The Korea Chamber of Commerce and Industry (KCCI) recently announced on the 1st that as a result of a survey on the impact of U.S. tariffs on 2,107 manufacturing companies nationwide, 60.3% of domestic manufacturing companies were found to be affected. Not only companies that export directly to the U.S. but also those competing with China and others in the domestic market and countries other than tariff-targeted countries, as well as companies exporting parts and raw materials to China, were surveyed to be under tariff influence, particularly in the battery and automobile/parts sectors. Domestic companies were most concerned about a decrease in delivery volume due to the tariff impact. The KCCI added, "It is necessary to devise measures to minimize tariff impact and support affected industries through diplomatic channels and private networks."

◆ Yoon's Impeachment Trial Moves to April... Will the Constitutional Court Announce the Sentencing Date?

As the impeachment trial of President Yoon Suk-yeol has moved to April, attention is focused on when the Constitutional Court will notify the sentencing date. If the court notifies the sentencing date today (1st), the sentencing could take place around the 3rd or 4th. Initially, the impeachment trial of President Yoon was concluded on February 25, and the sentencing was expected to be announced on the 14th of last month. This was because the impeachment trials of former Presidents Roh Moo-hyun and Park Geun-hye were both sentenced on Fridays within two weeks after the conclusion of arguments. Contrary to expectations, the court is still continuing its deliberations, and the legal community views April 18, when Acting Chief Justice Moon Hyung-bae and Justice Lee Mi-sun retire, returning the court to a six-member system, as the 'deadline for sentencing.'

◆ Warm Daytime Temperatures... 'Bad' Fine Dust Levels in the Capital Area

Today, Tuesday, the weather is expected to be generally clear nationwide, with daytime high temperatures similar to the average at 13-18 degrees, indicating warm weather. The temperature difference between day and night in inland areas nationwide will widen to around 15 degrees, so attention to health during the changing seasons is necessary. Fine dust levels are expected to be 'bad' in the capital area, while other regions are expected to be 'moderate' or 'good,' with temporary 'bad' levels forecasted in Sejong and Chungnam in the morning and Gangwon Yeongseo and Chungcheong areas at night. A dry weather advisory has been issued for the capital area, the east coast of Gangwon, southern inland and mountainous areas of Gangwon, inland areas of Chungcheong, eastern Gwangju and Jeolla, and Gyeongsang areas, so caution is needed to prevent wildfires and other fires.

Kim Bong-gu, Hankyung.com Reporter kbk9@hankyung.com