Finance
Stock market today: Dow, S&P 500, Nasdaq slide as tariff fears revive to kick off big Fed week
Netflix (NFLX), Disney (DIS) and other media stocks fell in early trade after President Trump vowed to slap 100% tariffs on all movies produced outside the US.
The duties will protect Hollywood, which is being “devastated” as other countries offer film producers incentives for shoots, Trump said in a post to Truth Social.
“The Movie Industry in America is DYING a very fast death,” he wrote in the Sunday post. “This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda!”
While Trump gave few details on how the tariffs will be implemented, the move is seen as a risk for the major media players, which all shoot film and TV projects in overseas locations.
Netflix (NFLX) fell more than 4%, while Walt Disney (DIS) stock dropped over 2%. Shares of Warner Bros. Discovery (WBD), Amazon (AMZN), and Paramount Global (PARA) also declined.
Reuters reports:
Read more here.
US-based bank holding company First Financial Bancorp has completed its previously announced acquisition of Westfield Bancorp and its subsidiary, Westfield Bank.
In June, First Financial agreed to acquire Westfield Bancorp from Ohio Farmers Insurance Company in a cash-and-stock deal valued at $325m.
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With the addition of Westfield Bank, First Financial’s total assets now stand at $20.6bn, strengthening its presence in the Midwest region of the US.
The acquisition is said to expand First Financial’s commercial banking and wealth management services in Northeast Ohio.
Westfield Bank’s retail locations and related services will now operate as part of First Financial’s network.
These branches will retain their current branding until the completion of conversion process, which is expected to occur in March 2026.
The conversion will merge the two banks’ products, processes and operating systems.
Westfield Bank clients will continue to receive services through existing channels, and will receive information about account conversions in the coming months.
First Financial president and CEO Archie Brown said: “This is an exciting step in the growth of First Financial, as the addition of Westfield Bank opens new possibilities for growth and profitability for us in an attractive market.
“We can now bring our wide range of solutions in consumer, commercial, specialty lending and wealth management to new clients, while expanding our geographic footprint for our current clients.
“The First Financial team is thrilled to welcome the Westfield Bank team members to the First Financial family.”
The transaction follows First Financial’s recent expansion activities in the Midwest.
In 2023, the company established a commercial lending presence in Northeast Ohio.
Earlier this year, First Financial announced BankFinancial, the parent company of BankFinancial, National Association, in Chicago, Illinois.
Furthermore, the company has also established a commercial banking presence in Grand Rapids, Michigan.
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