US Stock Market Highlights: US stocks dropped on Monday (July 7) after US President Donald Trump revealed plans to impose new tariffs on imports from at least seven countries, sparking concerns over renewed trade tensions. The Dow Jones Industrial Average fell 422.17 points, or 0.94%, to close at 44,406.36. The S&P 500 declined 0.79% to 6,229.98, while the Nasdaq Composite lost 0.92%, ending at 20,412.52.US Stock Market Highlights: US stocks dropped on Monday (July 7) after US President Donald Trump revealed plans to impose new tariffs on imports from at least seven countries, sparking concerns over renewed trade tensions. The Dow Jones Industrial Average fell 422.17 points, or 0.94%, to close at 44,406.36. The S&P 500 declined 0.79% to 6,229.98, while the Nasdaq Composite lost 0.92%, ending at 20,412.52. Trump, in a series of Truth Social posts, shared signed letters addressed to the leaders of South Korea, Japan, Malaysia, Kazakhstan, South Africa, Laos, and Myanmar, detailing new tariff rates set to take effect on August 1.Watch this space for all the live updates.
Dow slides more than 400 points Monday as new Trump tariffs incite sell-off
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