After the news of Baldwin's arrest broke out, President Trump said: "I wish him luck" when reporters asked, NBC reported. He is expected to be charged with assault in the third degree, a misdemeanor crime carrying a maximum punishment of one year in jail. Alec an unnamed man got "verbal altercation" over a spot near 10 street and 5 avenue.
Police told the station that Baldwin was trying to hold a parking spot open near his home, when someone else took the spot. Last year, the actor bought another apartment on the building's 12th floor, shelling out 1.3 million dollars.
On Friday, a man called 911 to report that Baldwin had punched him in the face. He is now at the 6th precinct and charges are pending.
Trump threatens to impose new tariffs on China
The effects could be especially severe for technology companies, which make many of their products in China, and for industrials. The S&P/TSX composite index gained 131 points early, but then closed down 166.51 points or more than one per cent to 14,721.75.
Baldwin has revived his career by doing impersonations of Donald Trump on Saturday Night Live.
Actor Alec Baldwin waits to speak during the Iowa Democratic Party's Fall Gala, in Des Moines, Iowa, last November.
It's just the latest run-in for the actor with an infamously hair-trigger temper, who was arrested in May 2014 for going on a profanity-filled tirade against two uniformed cops who stopped him for cycling the wrong way down a one-way street.
This is a breaking story and will be updated as more information comes in.