Inflation concerns trigger a market dip as new data shows impact of Trump tariffs in June

(Credit: Angela Weiss—Getty Images)

• Stocks dipped on Tuesday as new consumer price index data showed rising inflation and the Aug. 1 deadline for Trump’s tariff campaign loomed.

President Donald Trump’s tariff campaign is coming for your price tags. On Tuesday, the Labor Department released new data on its Consumer Price Index, showing that consumer prices rose 2.7% in June from a year earlier, and faster than May’s increase of 2.4%. Though that increase was in line with economists’ expectations, the stock market still reacted negatively to the news, with the S&P 500 dropping 0.4% and the Dow losing nearly 1%.