Market Reactions to Trump's Tariff Announcement

Major US stock market equities ended the day with significant losses following President Donald Trump's decision to impose tariffs on goods from Japan, South Korea, and several other countries. This move has reignited fears of escalating trade tensions and their potential repercussions on the global economy.

Trade Talks Extended Amidst Uncertainty

While the US has agreed to extend the trade talks deadline until August 1, the absence of an agreement with the European Union has heightened concerns. Investors are wary of the possibility that Washington may introduce sweeping new tariffs on the EU if negotiations fail to yield a compromise.

Stock Market Performance

The Dow Jones Industrial Average fell by 0.94%, with Sherwin Williams leading the decline by dropping 2.18%. Similarly, the Nasdaq 100 and the S&P 500 each lost 0.79%, as Tesla's shares plummeted 6.79% on both indexes.

Currency Movements

By 3:59 pm ET, the euro had weakened against the dollar by 0.46%, trading at 1.17204.