U.S. stock futures were down on late Monday evening following President Donald Trump’s announcement of new tariffs on 14 additional countries and an extension of the tariff deadline to August 1. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.06%, 0.2%, and 0.14%, respectively, at 8:04 p.m. EDT on July 7.
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In the regular trading session, all major indices declined. The Dow Jones, the S&P 500, and the Nasdaq Composite slid 0.94%, 0.79%, and 0.92%, respectively. The fresh wave of trade tariff threats has raised concerns about global trade disruptions and inflation.
In key stock market news, Tesla (TSLA) shares fell after CEO Elon Musk announced plans to form a new political party, adding volatility to tech-heavy indexes like the Nasdaq.
This week, investors are watching for the Federal Reserve’s June meeting minutes, expected Wednesday.