Shares in US film studios slid on Monday following a threat by US President Donald Trump to impose 100 percent tariffs on foreign-made productions.

Meanwhile oil prices slumped after OPEC countries announced an output hike despite oversupply concerns and growing fears that Trump's trade war could weaken demand.

Globally, stock markets were mixed in holiday-thinned trading ahead of central bank decisions on interest rates later in the week.

On Wall Street, the Dow edged higher in midday trading but the S&P 500 was down, putting a nine-day winning streak in peril.

US stocks are coming off two strong weeks, with gains last Friday driven by strong jobs data and improving sentiment about US-China trade talks.

Shares in Berkshire Hathaway fell around five percent after influential billionaire investor Warren Buffett said Saturday that he would retire from leading the firm he built into a conglomerate worth more than $1 trillion.

Shares in entertainment firms slid after Trump said Sunday he was ordering new tariffs on all films made outside the United States, claiming Hollywood was being "devastated" by a trend of US........

© Al Monitor