The S&P 500 Index ($SPX) (SPY) today is down -0.57%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.65%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.51%. September E-mini S&P futures (ESU25) are down -0.67%, and September E-mini Nasdaq futures (NQU25) are down -0.57%.
Stock indexes are retreating today as President Trump ramps up his threats to impose higher tariffs, sparking a risk-off environment in asset markets. Late Thursday, President Trump said a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%. The new Canadian tariffs would not apply to goods traded within the rules of the US-Mexico-Canada Trade Agreement, and a lower 10% would be kept on some energy-related imports. He also said he plans to impose blanket tariffs of 15% or 20% on most US trade partners.
