Market Reaction to Trump's Executive Order

Wall Street closed lower on Monday following reports that President Donald Trump signed an executive order extending the China tariff deadline by 90 days. In a surprising move, Trump also announced that gold would not be subjected to tariffs, sparking varied reactions across the market.

Geopolitical Tensions and Market Impact

Amidst these developments, European leaders have reportedly requested a meeting with Trump ahead of his planned encounter with Russian President Vladimir Putin in Alaska on August 15. This diplomatic maneuver adds another layer of complexity to the current geopolitical landscape.

Stock Market and Currency Updates

The Dow Jones Industrial Average fell by 0.45%, with Salesforce Inc. leading the losses at 3.27%. The Nasdaq 100 and the S&P 500 also saw declines, dropping by 0.36% and 0.25% respectively, with Intuit Inc. experiencing the most significant drop at 5.73%. On the currency front, the euro decreased by 0.33% against the US dollar, trading at $1.16043.