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Wall Street Stumbles as Trump’s Tariff Threats Rattle Global Markets

U.S. stock markets kicked off the week in the red as renewed trade tensions sparked by former President Donald Trump sent shockwaves through Wall Street. The Dow Jones Industrial Average tumbled over 400 points, while the S&P 500 and Nasdaq Composite dropped 0.8% and 0.9% respectively. The sell-off followed Trump’s announcement of sweeping new tariffs set to take effect on August 1. In a series of public letters posted to social media, Trump warned that countries including Japan, South Korea, South Africa, and Malaysia would face levies ranging from 25% to 40% unless trade agreements are finalized by a self-imposed July 9 deadline. Adding to the market jitters, Trump declared that any nation aligning with the “Anti-American policies of BRICS” would be hit with an additional 10% tariff, escalating tensions with key trading partners like China and India. The tech sector bore the brunt of the downturn, with Tesla shares plunging nearly 7% amid political controversy surrounding CEO Elo...
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Fed Expected to Keep Interest Rates Unchanged Amid Speculation of Future Cuts

 


The Federal Reserve is expected to keep its key short-term interest rate unchanged in the near future, according to recent reports. This comes as inflation is inching closer to the Fed’s 2% target, and policymakers are facing hopes that they will make a decisive shift in policy and cut interest rates next year.

The decision to leave interest rates unchanged is likely to be welcomed by investors, who have been concerned about the impact of rising interest rates on the economy. However, some analysts have speculated that the Fed may eventually cut interest rates in response to slowing economic growth.

In the meantime, the Fed’s decision to keep interest rates steady is expected to provide some stability to the markets. Investors will be watching closely for any signs of a change in policy, but for now, it appears that the Fed is content to maintain the status quo.


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