Homebuilding stocks are sliding on Tuesday morning, with the S&P 500 Homebuilding Index down 1.4%, after US Commerce Secretary Wilbur Ross said his agency will impose a 20% tariff on Canadian softwood lumber imports.
“It’s about 31.5 per cent of the total U.S. market, so it’s a pretty big deal in terms of the Canadian relationship,” Ross told Reuters by phone ahead of the announcement.
Here’s a look at the performance of some of the other major homebuilders in early Tuesday trade:
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.