After falling by nearly 1% on Monday, the Dow Jones (DJIA) is once again in the red as President Trump continues to notify countries of their updated tariff rates. These tariffs will be effective as of August 1, a date extended from the original deadline of July 9.
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“As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025,” said Trump in a Truth Social post. He added that the deadline will not be extended this time.
So far, 14 countries have received letters with their updated tariff rates. Nine of these countries are located in Asia, although India, Singapore, and the Philippines have not yet been notified.
All of the letters indicated that transshipped goods would face higher tariffs, though the exact rates weren’t immediately specified. Trump likely included this provision to combat the transshipment of Chinese goods.
The Dow Jones is down by 0.13% at the time of writing.
Which Stocks are Moving the Dow Jones?
Let’s pivot to TipRanks’ Dow Jones Heatmap, which illustrates the stocks that have contributed to the index’s price action.
Four of the seven technology stocks within the index are trading lower, although Salesforce (CRM) is bucking the trend with a solid gain. Consumer defensive stocks are also taking a hit, with all three constituents in the red.
Today marks the first day of Amazon’s (AMZN) Prime Day event, which lasts until July 11. However, the e-commerce leader hasn’t reacted positively after early sales fell by 14% year-over-year compared to last year’s Prime Day, according to Momentum Commerce. Still, the event will last for several more days and could stage a comeback.
Meanwhile, healthcare stocks are carrying the Dow Jones higher with all four companies in the green.
DIA Stock Moves Lower with the Dow Jones
The SPDR Dow Jones Industrial Average ETF (DIA) is an exchange-traded fund designed to track the movement of the Dow Jones. As a result, DIA is falling alongside the Dow Jones today.
Wall Street believes that DIA stock has room to rise. During the past three months, analysts have issued an average DIA price target of $470.42, implying upside of 6.17% from current prices. The 31 stocks in DIA carry 30 buy ratings, 1 hold rating, and zero sell ratings.