President Donald Trump’s tariff campaign is impacting consumer prices, with the Consumer Price Index rising 2.7% in June. Stock market reacted negatively, S&P 500 dropping 0.4%. Markets remain volatile as Trump threatens more tariff hikes on Aug. 1, impacting consumer goods and investor predictions of macroeconomic changes.

Federal Reserve Chair warns Trump’s tariffs could negatively impact inflation, prolonging rate cuts. Consumer Price Index, tracking goods and services costs, is a key indicator for measuring inflation. Stocks react mixed to new data, with banks dropping despite strong earnings. Nvidia rises after announcing plans to resume sales to China.

Investors cautious ahead of Trump’s Aug. 1 tariff deadline. JP Morgan remains confident in U.S. economy’s long-term dominance, dismissing short-sighted “Sell America” trade. Other assets fall, Bitcoin drops below $120,000, stablecoin company Circle falls 4.6%. House of Representatives considering bills for cryptocurrency regulation during “Crypto Week.”

Read more at Yahoo Finance: Inflation concerns trigger a market dip as new data shows impact of Trump tariffs in June