Markets Steady as Investors Absorb Trump’s Latest Tariff Escalation

Stock futures showed little movement early Wednesday as investors closely monitored the latest developments in President Donald Trump’s tariff policy. This comes after a Tuesday session where traders were on high alert following new updates to the administration’s trade stance.

Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were all marginally lower, reflecting a cautious wait-and-see approach. On Tuesday, the S&P 500 slipped slightly, while the Nasdaq Composite saw a modest gain, and the Dow lost nearly 0.4%.

Global markets, including Japan’s Nikkei 225, South Korea’s Kospi, and Europe’s Stoxx 600 index, posted modest gains despite Trump’s announcement of sharp tariffs on 14 countries. In a Truth Social post on Tuesday, Trump confirmed no changes or extensions to these duties, which range from 25% to 40% and are set to take effect on August 1.

Further impacting trade, Trump also announced a 50% levy on copper imports Tuesday and hinted at more sector-specific tariffs. He also threatened a potential 200% tariff on pharmaceutical imports, though he indicated a 12 to 18-month grace period before implementation.

Scott Helfstein, Global X head of investment strategy, noted, “The tariff announcement was a reminder that markets are not out of the woods. The White House has not really achieved their goals on trade, and that could be a continued source of volatility.” Beyond tariffs, traders today are also anticipating the release of the Federal Open Market Committee’s minutes from its most recent meeting.

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