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US stocks fell sharply on Monday after President Donald Trump announced fresh 25% tariffs on imports from Japan and South Korea
US President Donald Trump (Reuters File Image)
US stocks declined on Monday as President Donald Trump renewed tariff threats against key trading partners, announcing plans to impose 25% duties on imports from Japan and South Korea starting August 1.
The Dow Jones Industrial Average dropped over 400 points, or around 1%, while the S&P 500 fell 0.9%. The tech-heavy Nasdaq Composite also declined 0.9%, with Tesla shares under pressure amid concerns over CEO Elon Musk’s intention to launch a political party.
Markets pulled back from record closing highs as investors reacted to the escalating trade tensions. On Monday, Trump shared letters on social media addressed to the leaders of South Korea and Japan, confirming that the 25% tariffs would be implemented at the beginning of next month.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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