Trump, Dow and Stocks
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Wall Street tumble as Trump slaps 35% tariffs on Canada; Dow drops 200 pts, crypto soars past $117K on ETF inflows.
A fresh bout of technical weakness has dragged the Dow Jones Industrial Average back below 44,400 following a strong bullish performance through the last third of June. The major equity index peaked near 44,800, failing to breach all-time highs north of the 45,000 handle.
Stocks closed lower Friday, a day after the S&P 500 posted a new record high, following the announcement of a 35% tariff on Canada.
US stock market started the week on a weak note as Dow Jones fell 160 points after President Donald Trump announced fresh tariffs on 14 countries, including Japan, South Korea, and Bangladesh. The market dip deepened as Tesla shares plunged 7% following Elon Musks America Party announcement.
Helen of Troy swung to a loss of $450.7 million, or $19.65 a share, for the three months ended May 31, compared to net income of $6.2 million, or 26 cents a share, a year earlier. Stripping out certain one-time items, earnings came in at 41 cents a share.
Uncertainty surrounding U.S. trade tariff policies are keeping investors cautious, whilst Tesla (NASDAQ: TSLA)
Experts weigh in on whether Trump will carry out his latest threat – and the consensus is that the uncertainty looming over the U.S. economy can’t continue, Rhian Lubin reports
Donald Trump launched new tariffs on Wednesday, which included raising duty on Brazilian imports to 50pc from 10pc, effective from August 1. This is despite the US having a $7.4bn (£5.5bn) trade surplus with Brazil, according to US Census Bureau data.
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Investor's Business Daily on MSNDow Jones Futures Fall: New Trump Tariffs Coming, But Here's The Real Deadline; Tesla's Musk Forms Political PartyPresident Trump says he'll send out tariff letters to other countries starting Monday, but this is the real deadline. Elon Musk is forming a political party. Tesla rival Uber leads five stocks in buy zones.