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Tariff-wielding president punctures U.S. stock markets

NEW YORK, New York - Monday's trading session saw mixed performances across U.S. and global markets, with several major indices posting losses amid cautious investor sentiment. Piercing the record-breaking run on Wall Street, U.S. stocks tanked on Monday following President Donald Trump's decision to impose tariffs of up to 40 percent on some countries. Allies Japan and South Korea have each been hit with 25 percent levies. "I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th. Thank you for your attention to this matter! DONALD J. TRUMP, President of The United States of America," the president posted on his social media platform Truth Soical on Tuesday. The S&P 500 (^GSPC) fell 49.37 points, or 0.79 percent, to close at 6,229.98, while the Dow Jones Industrial Average (^DJI) dropped 422.17 points, or 0.94 percent, settling at 44,406.36. The NASDAQ Composite (^IXIC) also declined, losing 188.59 points, or 0.92 percent, to end at 20,412.52. The NYSE Composite (^NYA) slipped 180.19 points, or 0.87 percent, to 20,545.60, while the Russell 2000 (^RUT) saw a steeper drop of 34.81 points, or 1.55 percent, closing at 2,214.23. The CBOE Volatility Index (^VIX), a key measure of market fear, rose 0.31 points, or 1.77 percent, to 17.79. European Markets Show Resilience European indices largely bucked the downtrend, with Germany's DAX (^GDAXI) climbing 286.22 points, or 1.20 percent, to 24,073.67. France's CAC 40 (^FCHI) added 27.20 points, or 0.35 percent, reaching 7,723.47, and the EURO STOXX 50 (^STOXX50E) gained 52.73 points, or 1.00 percent, closing at 5,341.54. UK Markets Drift Lower The UK's FTSE 100 (^FTSE), however, edged down 16.38 points, or 0.19 percent, to 8,806.53. Asia and Pacific Markets Mixed In Asia, Japan's Nikkei 225 (^N225) fell 223.20 points, or 0.56 percent, to 39,587.68, while Australia's S&P/ASX 200 (^AXJO) dipped 13.70 points, or 0.16 percent, to 8,589.30. Hong Kong's Hang Seng Index (^HSI) slipped 28.23 points, or 0.12 percent, to 23,887.83. On the upside, South Korea's KOSPI (^KS11) rose 5.19 points, or 0.17 percent, to 3,059.47. Commodities and Currencies The U.S. Dollar Index ( strengthened, gaining 0.37 points, or 0.38 percent, to 97.55. Meanwhile, the Japanese Yen Currency Index (^XDN) fell 0.50 points, or 0.73 percent, to 68.45, and the Australian Dollar Currency Index (^XDA) dropped 0.80 points, or 1.21 percent, to 64.91. Latin America and Emerging Markets Brazil's IBOVESPA (^BVSP) tumbled 1,773.86 points, or 1.26 percent, to 139,489.70, while Mexico's IPC (^MXX) lost 488.29 points, or 0.84 percent, closing at 57,489.47. Argentina's MERVAL (^MERV) declined sharply by 28,762.88 points, or 1.38 percent, to 2,049,934.12. Investors remain cautious ahead of key economic data and central bank decisions later in the week. Market participants will closely monitor inflation figures and employment reports for further direction. U.S. Markets UK and European Markets FTSE 100 (^FTSE): 8,806.53 ▼ 16.38 (↓ 0.19 percent) DAX (^GDAXI): 24,073.67 ▲ 286.22 (↑ 1.20 percent) CAC 40 (^FCHI): 7,723.47 ▲ 27.20 (↑ 0.35 percent) EURO STOXX 50 (^STOXX50E): 5,341.54 ▲ 52.73 (↑ 1.00 percent) Euronext 100 (^N100): 1,576.47 ▲ 6.65 (↑ 0.42 percent) BEL 20 (^BFX): 4,487.49 ▲ 2.45 (↑ 0.05 percent) Asia and Pacific Markets Hang Seng Index (^HSI): 23,887.83 ▼ 28.23 (↓ 0.12 percent) Nikkei 225 (^N225): 39,587.68 ▼ 223.20 (↓ 0.56 percent) S&P/ASX 200 (^AXJO): 8,589.30 ▼ 13.70 (↓ 0.16 percent) All Ordinaries (^AORD): 8,826.40 ▼ 15.50 (↓ 0.18 percent) KOSPI (^KS11): 3,059.47 ▲ 5.19 (↑ 0.17 percent) TWSE (^TWII): 22,428.72 ▼ 118.78 (↓ 0.53 percent) STI Index (^STI): 4,031.86 ▲ 18.24 (↑ 0.45 percent) IDX Composite (^JKSE): 6,900.93 ▲ 35.74 (↑ 0.52 percent) FTSE Bursa Malaysia KLCI (^KLSE): 1,537.54 ▼ 12.65 (↓ 0.82 percent) S&P/NZX 50 (^NZ50): 12,764.95 ▼ 1.65 (↓ 0.01 percent) Middle East & Africa TA-125 (^ 3,097.79 ▼ 15.87 (↓ 0.51 percent) EGX 30 (^CASE30): 33,037.60 ▲ 123.90 (↑ 0.38 percent) Top 40 USD Net TRI (^ 5,433.72 ▼ 22.65 (↓ 0.42 percent) Americas (Ex-U.S.) S&P/TSX Composite (^GSPTSE): 27,020.28 ▼ 15.88 (↓ 0.06 percent) IBOVESPA (^BVSP): 139,489.70 ▼ 1,773.86 (↓ 1.26 percent) IPC Mexico (^MXX): 57,489.47 ▼ 488.29 (↓ 0.84 percent) S&P IPSA (^IPSA): 8,257.14 ▼ 28.15 (↓ 0.34 percent) MERVAL (^MERV): 2,049,934.12 ▼ 28,762.88 (↓ 1.38 percent) Currency & Global Indices U.S. Dollar Index ( 97.55 ▲ 0.37 (↑ 0.38 percent) MSCI Europe (^125904-USD-STRD): 2,427.20 ▲ 2.60 (↑ 0.11 percent) British Pound Index (^XDB): 136.01 ▼ 0.47 (↓ 0.35 percent) Euro Currency Index (^XDE): 117.09 ▼ 0.47 (↓ 0.40 percent) Japanese Yen Index (^XDN): 68.45 ▼ 0.50 (↓ 0.73 percent) Australian Dollar Index (^XDA): 64.91 ▼ 0.80 (↓ 1.21 percent) Key Takeaways U.S. markets led declines, with the Dow and S&P 500 both falling nearly 1 percent following new tariffs. European stocks outperformed, with Germany's DAX surging 1.2 percent. Asia was mixed, with slight gains in South Korea and Singapore offset by losses in Japan and Australia.