Shares of industrial and transportation companies were lower amid geopolitical uncertainty.

U.S. Trade Representative Katherine Tai said that the U.S. must shift the focus of its trade policy to rebuilding its domestic manufacturing industries, and lessening ties to unfriendly economies. Appearing before the House Ways and Means Committee, Tai said that global events such as Russia's invasion of Ukraine and the supply-chain disruptions triggered by the Covid-19 pandemic point to the need for new priorities.

AerCap Holdings said it had filed $3.5 billion in insurance claims over more than 100 jetliners the company had rented to Russian airlines and that are now stuck in the country following the imposition of Western sanctions. Meanwhile, MD Helicopters, an Arizona helicopter maker backed by financier Lynn Tilton, filed for bankruptcy protection, agreeing to sell itself out of chapter 11 to creditors of her bankrupt Zohar loan funds. 


 Write to Amy Pessetto at amy.pessetto@dowjones.com

(END) Dow Jones Newswires

03-30-22 1717ET