US stock market today: Wall Street dips as Tesla tumbles amid widening Trump-Musk rift, dollar weakens ahead of tariff deadline
S stocks drifted lower Tuesday as Wall Street's recent momentum slowed and shares of Tesla tumbled sharply amid an escalating rift between Elon Musk and President Donald Trump.
The S&P 500 slipped 0.3% and appeared on track to break a three-day winning streak that had carried it to record highs. The Dow Jones Industrial Average dipped by 30 points, while the tech-heavy Nasdaq composite fell 0.4%, AP reported.
Tesla was a major drag on the market, dropping more than 5% overnight as tensions escalated between Musk and Trump. The dispute flared anew after Musk said he's considering forming a new political party, and Trump responded with renewed criticism of Tesla's electric vehicle subsidies and other government incentives.
'Shares of Tesla tumbled more than 5% overnight after the war of words... heated up again,' AP reported, noting that Trump has slammed Musk over what he called 'massive tax breaks' while Musk criticised Trump's tariff strategy.
Wall Street futures were already pointing lower before the market opened Tuesday. Futures for the Dow slipped 0.2%, S&P 500 futures dropped 0.3%, and Nasdaq futures declined 0.5%.
The broader economic backdrop remained cautious.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Sharp Design, Smoother Drives.
Toyota Glanza
Learn More
Undo
Treasury yields held relatively steady ahead of key reports on manufacturing activity and job openings. Economists are watching closely for multiple labour market updates due later in the week.
Investors are also awaiting a panel discussion on European Central Bank policy that will include Federal Reserve Chair Jerome Powell. The Fed has kept interest rates unchanged so far this year amid ongoing uncertainty over the economic impact of Trump's tariffs.
Trump's decision to pause or delay several planned tariffs earlier this year helped power a strong rebound in US equities following a tariff-fuelled slide in the spring. However, with some of those measures still looming, the US dollar continued to weaken. It fell to 142.74 Japanese yen on Tuesday from 144.04 yen and is now down more than 9% this year.
In Europe, Britain's FTSE 100 shed 0.3%, Germany's DAX lost 0.6%, and France's CAC 40 fell 0.5% in midday trading.
In Asia, Japan's Nikkei 225 dropped 1.2% to 39,986.33 despite stronger-than-expected sentiment in the Bank of Japan's latest Tankan survey of large manufacturers. Meanwhile, China's Shanghai Composite rose 0.4% to 3,457.75 following a three-month high in both manufacturing and services PMI data.
South Korea's KOSPI added 0.6% to 3,089.65 on strong June exports, particularly for semiconductors, ships, and health products.
'We expect auto exports to remain soft due to tariffs and increased production in the US,' ING Economics' Min Joo Kang noted in a report.
Australia's S&P/ASX 200 dipped 0.1% to 8,541.10, while markets in Hong Kong were closed for the day.
In energy trading, US crude oil gained 58 cents to $65.69 a barrel, and Brent crude, the international benchmark, rose 50 cents to $67.24 per barrel.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
33 minutes ago
- Business Standard
Barometers trade in negative terrain; European mrkt advance
The key equity benchmark traded with moderate losses in afternoon trade, as mixed global sentiment weighed on investor confidence. Investors remained cautious, adopting risk-off approach. The Nifty traded below the 25,500 level. Realty, PSU Bank and oil & gas shares declined while metal, consumer durables and auto shares advanced. At 13:27 IST, the barometer index, the S&P BSE Sensex declined 378.04 points or 0.45% to 83,319.25. The Nifty 50 index lost 126.15 points or 0.49% to 25,415.70. In the broader market, the S&P BSE Mid-Cap index declined 0.58% and the S&P BSE Small-Cap index fell 0.44%. The market breadth was negative. On the BSE, 1,623 shares rose and 2,284 shares fell. A total of 170 shares were unchanged. Gainers & Losers: Tata Steel (up 3.18%), JSW Steel (up 2.87%), Ultratech Cement (up 2.39%), Maruti Suzuki India (up 1.05%) and Tata Motors (up 1.02%) were the major Nifty50 gainers. Bajaj Finserv (down 2.52%), Shriram Finance (down 2.51%), Bajaj Finance (down 1.98%), Bharat Electronics (BEL) (down 1.91%) and Indusind Bank (down 1.62%) were the major Nifty50 losers Stocks in Spotlight: Dev Information Technology (DEVIT) advanced 1.29% after the company announced that it has secured significant orders worth approximately Rs 4.4 crore from Alivus Lifesciences. Lupin shed 0.81%. The company announced that it has received approval from the United States Food and Drug Administration (U.S. FDA) for its abbreviated new drug application (ANDA) for Loteprednol Etabonate Ophthalmic Gel, 0.38% Adani Ports & Special Economic Zone (APSEZ) shed 0.36%. The company handled 41.3 MMT of total cargo volumes in June 2025, up 12% year-on-year (YoY) basis. For the quarter ended 30th June 2025, APSEZ handled 120.6 MMT of total cargo, up11% YoY, led by containers (up 19% YoY). Paras Defence and Space Technologies added 2.92% after the companys subsidiary, Paras Anti-Drone Technologies has received a Rs 22.21 crore letter of intent (LoI) from Frances Cerbair to supply 30 units of its CHIMERA 200 anti-drone system. Dreamfolks Services declined 4.32% following the closure of the programs run for its clients including Axis Bank, ICICI Bank, effective from 1 July 2025. South Indian Bank fell 1.77%. The company said that its gross advances jumped 8.02% to Rs 89,201 crore as of 30 June 2025 as against Rs 82,580 crore as of 30 June 2024. Asian Paints slipped 0.72%. The Competition Commission of India (CCI) ordered an investigation into the company for allegedly abusing its dominant position in the decorative paints market. The move came following a complaint by Grasim Industries, which has recently entered the sector under its Birla Opus Paints brand. The complaint claimed that the company was discouraging distributors from selling Birla Opus products by offering incentives such as foreign travel and discounts in exchange for exclusivity. Global Markets: European market advanced as investors remained focused on the European Central Bank forum in Sintra, Portugal, on Wednesday, with ECB President Christine Lagarde due to address policymakers today Most Asian stocks declined on Wednesday as investors evaluated recent comments from U.S. Federal Reserve Chair Jerome Powell. Powell stated on Tuesday that the central bank would have already cut interest rates if not for U.S. President Donald Trump's tariff policies. In Singapore, stocks touched a record high on Wednesday morning, supported by local market strength despite broader global uncertainty. Overnight in the United States, major indices ended the session with mixed results. The S&P 500 dipped 0.11% and the Nasdaq Composite declined 0.82%. In contrast, the Dow Jones Industrial Average rose 0.91%, reflecting some rotation into blue-chip stocks. Investor sentiment remained cautious ahead of the July 9 tariff deadline, when reciprocal tariffs are scheduled to be reimposed unless a resolution is reached. Tesla shares dropped 5.3% after President Trump criticized CEO Elon Musk, claiming he has benefited disproportionately from government subsidies. Trump also called for a review of Teslas federal support. The tension follows Musks public criticism of a large tax and spending bill, which narrowly passed in the Senate on Tuesday. The bill is expected to add approximately 3.3 trillion dollars to the national debt. It now moves to the House of Representatives for further consideration, with President Trump aiming to sign it into law by the July 4 holiday. Traders are now focused on Thursday's U.S. nonfarm payrolls report, which may influence the Federal Reserve's decision on a potential rate cut in July.
Time of India
35 minutes ago
- Time of India
How to customize and edit your Mecha in Mecha BREAK?
Image via Amazing Seasun Games In Mecha BREAK , blowing stuff up is fun, but doing it in style? That's peak satisfaction. Everybody has their own style and vibe, and you can put your style into your Mecha too. The best part? It's not rocket science. Just a few tweaks, taps, and tokens—and boom, your Striker becomes your Striker. This guide will help you customize your Mecha like a boss. Step 1: Enter the Striker Bay Customization begins in one place—Striker Bay. This is your personal garage where all your mechanical beasts are stored. Once inside, select the mech (Striker) you want to edit. Don't worry, you can change things up anytime, and the game never charges for resetting designs. All You Need to Know For Mecha Break Release Step 2: Open the Design Lab Click on 'Striker Design'. This is where all the visual magic happens. You'll find a slick interface with multiple tabs, each handling a different layer of customization. Here's how to navigate it: 1. Paint Jobs: Go Wild with Colors You can either go minimalist with monochrome shades or go full Gundam with rainbow chaos. Customize: Full-body shades Individual parts (arms, legs, torso, weapons) Metallic, matte, or glossy finishes Pro tip: Paint kits are lootable in missions—extract safely to keep them! 2. Patterns: Add Some Style Patterns act like decals and give your mech personality. Flames, camo, circuits—you name it. Only one pattern can be applied at a time Placement is fixed per pattern type Looks best when layered with good paint contrast 3. Insignias: Show Off Your Allegiances Want to flash your squad logo or a cool emblem? Use insignias. Place up to five insignias on any part of your Striker Resize, rotate, and reposition them freely Mix and match for some epic combos 4. Accents: The Finishing Touch These are minor design tweaks that really elevate your mech's look. Add neon glows, edge lighting, or frame highlights Best used for color-matching or breaking monotony 5. Skins: Structural Tweaks Unlike paint, skins can change the actual look of specific components—think new wing shapes or alternate shoulder plates. While not a full overhaul, they're very noticeable. Step 3: Save Your Custom Looks Each Striker gets three design slots: Slot 1: Always free Slots 2 & 3: Unlock with Mission Tokens This means you can create a 'desert ops' version, a 'neon party' build, or a 'stealth black' model and switch between them based on mood or mission type. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Skal I på bilferie til sommer? Scandlines Læs mere Undo Step 4: Unlock More Custom Gear Here's how to expand your design options: Paint Kits – Loot them in missions (only if you extract successfully) Skins & Patterns – Buy from Logistics using Mission Tokens Premium Items – Use Corite (in-game currency) for exclusive cosmetics Random Drops – Try Supply Crates for surprise gear Customizing your Striker in Mecha BREAK isn't just about looking cool—it's about making a mech that feels uniquely yours . Whether you want to be a glowing menace or a matte-black ghost, the tools are right there. So hop into Striker Bay and start experimenting—your mech, your rules. Game On Season 1 continues with Mirabai Chanu's inspiring story. Watch Episode 2 here.
United News of India
36 minutes ago
- United News of India
US withdraws delivery of Patriot interceptor missiles to Ukraine in a strong upset to Kyiv's air defence
Washington/Kyiv, July 2 (UNI) The Pentagon has reportedly withdrawn the delivery of some of its arms and ammunition supplies to Ukraine, including the delivery of missile systems, posing a big threat to Kyiv's defences in face of a rapidly advancing Russia. The US Defence Secretary Pete Hegseth ordered the suspension of delivering missiles and ammo to Kyiv, including dozens of Patriot interceptor missiles, more than 100 Hellfire missiles and dozens of Stinger missiles, reports NBC News. 'This decision was made to put America's interests first following a review of our nation's military support and assistance to other countries across the globe,' White House spokesperson Anna Kelly said in a statement, an apparent reference to the decision to suspend deliveries. 'The strength of the United States Armed Forces remains unquestioned—just ask Iran.' The Patriot – which is America's finest missile defence system (and surpassed only by the Russian S-400) – is essential for Ukraine's air defences, forming the backbone of its defence systems. The lack of interceptor missiles could deal a huge blow to Kyiv's ongoing war with an ever-advancing Moscow, which now controls a fifth of Ukraine's territory. 'At the same time, the department is rigorously examining and adapting its approach to achieving this objective while also preserving US forces' readiness for administration defence priorities,' said Elbridge Colby, the undersecretary for policy. An anonymous US official said that the delivery was halted due to its own stockpile running low, and that Washington will continue providing Ukraine with arms supplies. Simultaneously, the funding for the Slavic country's defence will be reduced owing to a policy change by President Donald Trump, who since taking office has repeatedly asked Moscow and Kyiv to resolve their differences, even threatening to withdraw from the peace process due to Washington's growing impatience. 'This administration views the conflict differently,' Hegseth said. 'We believe a negotiated peace is in the best interest of both Ukraine and Russia — and of America.' UNI ANV GNK 1316
