Wall Street Wavers As Trump Extends Tariff Deadlines/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Wall Street opened mixed Tuesday as investors digested President Trump’s new tariff deadlines, with some relief over delayed hikes. Markets slipped Monday following Trump’s 25% tariffs on Japanese and South Korean goods, though volatility has moderated. Overseas markets showed mixed performance while traders await further tariff negotiations.
Quick Look
- Wall Street mixed after Monday’s tariff-driven slump
- Trump delays broad tariffs but targets Japan, South Korea
- Global investors watching for August 1 tariff deadline
- Amazon shares tick higher on launch of Prime Day
- Oil prices dip slightly; dollar strengthens versus yen
Wall Street Opens Mixed as Investors Weigh Trump’s Tariff Moves
Deep Look
NEW YORK (AP) — Wall Street was steady but cautious in early trading Tuesday, as investors weighed the latest twists in President Donald Trump’s escalating trade maneuvers and upcoming tariff deadlines.
Futures for the S&P 500 ticked up 0.1% ahead of the opening bell, while futures for the Dow Jones Industrial Average slipped 0.1%. Nasdaq futures climbed 0.2%.
Markets were rattled Monday after Trump announced a 25% tariff on goods from Japan and South Korea, alongside planned new levies on imports from a dozen other countries set to begin Aug. 1. The S&P 500 fell 0.8% Monday, its largest single-day drop since June, though it remains near record highs. The Dow and Nasdaq posted similar declines, but recent volatility from earlier in the year has somewhat eased.
Trump disclosed his tariff plans by posting letters addressed to various world leaders on his social media platform, Truth Social. The letters warned nations against retaliatory measures, threatening even higher tariffs if they respond in kind.
“Financial markets have reacted to news of higher U.S. tariffs in sanguine fashion,” wrote Chris Turner, ING’s global head of markets. “Presumably, the view is now that there are more deals to be done before the Aug. 1 deadline.”
Trump initially unveiled sweeping tariffs set to hit imports from nearly every country back in April, but quickly postponed the measures for 90 days to allow room for negotiations. That window is scheduled to close this week.
In corporate news, Amazon shares rose modestly—less than 1%—in pre-market trading as the retail giant kicked off its Prime Day event, which now spans four days. Amazon launched the members-only shopping promotion in 2015, expanding it to two days in 2019.
Overseas markets showed mixed performance. Germany’s DAX gained 0.4% midday, while Britain’s FTSE 100 rose 0.2%. France’s CAC 40 slipped 0.1%.
In Asia, Japan’s Nikkei 225 rose 0.3% to 39,688.81, and South Korea’s Kospi surged 1.8% to 3,114.95. Hong Kong’s Hang Seng index climbed 1.1% to 24,140.13, and the Shanghai Composite added 0.7% to 3,497.48. Australia’s S&P/ASX 200 edged down 0.1% to 8,590.70.
On the commodities front, U.S. benchmark crude dipped 17 cents to $67.76 per barrel, while Brent crude, the global standard, slipped 6 cents to $69.52.
In currency trading, the U.S. dollar strengthened to 146.37 Japanese yen from 146.01 yen, while the euro edged up to $1.1734 from $1.1714.
Markets remain on edge as investors wait to see whether Trump’s tariff threats turn into action—or another delay.
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