US Stock Market Live: Dow futures extend losses after Monday's sell-off; Trump announces more tariffs
Published on 08/07/2025 05:04 AM
US President Donald Trump announced sweeping tariffs across 14 nations on Monday, from Japan to South Korea, Myanmar to Bangladesh, among others.
The White House has also mentioned that more letters will be sent out over the next few days.
The President also signed an official declaration delaying the imposition of the new tariffs to August 1.
Stocks fell from all-time highs and the dollar climbed after President Donald Trump began unveiling his tariff plans, with the US setting levies for nations such as Japan, South Korea and South Africa starting in August — triggering a selloff in their currencies.
The S&P 500 slid about 1%, with megacaps leading losses as Tesla Inc. tumbled nearly 7% after Elon Musk announced he’s formed a political party, raising concern about his company’s outlook.
Treasuries dropped, with longer-dated bonds underperforming. Emerging markets got hit as Trump warned he’d add extra tariffs on countries aligning with “the Anti-American policies of BRICS.”
Futures on Wall Street are extending losses after benchmark indices witnessed selling pressure at the start of the new trading week.
The Dow futures are currently down 110 points, while those on the S&P 500 and Nasdaq are down 15 and 25 points respectively.
Good Morning!
Futures on Wall Street are down after Monday’s sell-off.
US President Donald Trump has announced tariffs for 14 countries overnight.
Clarity still awaited on the US-India trade deal.
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