Negative

Stocks on Wall Street closed lower as the White House pressured trading partners before imposing tariffs. S&P 500 and Dow Jones fell 0.8% and 0.9%, respectively. Decliners outnumbered gainers. Tesla dropped 6.8% amid CEO Musk’s feud with Trump. Trump announced new tariffs on several countries, escalating trade tensions.

Trump’s administration released letters warning Japan and South Korea of a 25% tariff on goods starting August 1. Trump also announced new tariff rates on other countries. Market sell-off on Monday came after a strong week, with sectors like technology, financial, and consumer-related stocks closing in the red.

Bond yields rose as stocks fell. The S&P 500 dropped 49.37 points, Dow lost 422.17 points, and Nasdaq slid 188.59 points. European indexes ended higher, while Asian markets closed lower. Oil prices fluctuated after OPEC+ agreed to increase production. This week’s focus will be on Federal Reserve meeting minutes release on Wednesday.

Read more at Yahoo Finance: Wall Street falls as Trump pressures trading partners with new tariffs