Wall St futures down due to tariff uncertainty and Tesla CEO forming political party

U.S. stock index futures fell as investors grappled with uncertainty around tariff policies and Tesla’s CEO forming a political party. Trump threatens higher tariff rates by August 1 and an extra 10% on countries aligning with BRICS. Dow, S&P 500, and Nasdaq E-minis dropped. Market cautious as investors brace for light summer trading.

Market pullback after record highs following strong jobs report. Dow near record high, but cautious optimism remains. Tesla shares drop after Musk’s political party announcement. Nvidia’s market cap nears $4 trillion. Fed hesitant to cut interest rates due to tariff uncertainty. Traders no longer expect July rate cut, September odds at 66%.

Republicans approve massive tax and spending bill set to increase national debt by $3.4 trillion. Stimulus may boost economic growth but raises inflation concerns. Fed’s next move uncertain. Minutes of June meeting to offer more clues on interest rate outlook. Market volatility continues amid tariff policy chaos.

Read more at Yahoo Finance: Wall St futures slip as markets await clarity on tariffs