Market Reacts to New Tariffs Announcement

Wall Street stock futures showed a downward trend as investors reacted to the latest tariff announcements by the United States government. The anticipation of these changes has introduced a new layer of uncertainty in the market.

Details of the Tariff Increases

President Donald Trump has announced a 50% tariff on copper imports, set to take effect on August 1. In a related move, a 50% tax on imports from Brazil was also unveiled, prompting a swift response from Brazilian President Luis Inacio Lula da Silva, who vowed to address any unilateral tariff increases under Brazil's Economic Reciprocity Law.

Market and Currency Movements

At 4:19 am ET, futures for the Dow Jones Industrial Average fell by 0.23%, while S&P 500 futures saw a 0.13% decrease. The Nasdaq 100 futures remained unchanged. In the currency markets, the euro held steady against the dollar, trading at $1.17275 by 4:28 am ET.