US Edition
Wall Street drifts as stock markets worldwide take Trump’s new tariffs in stride
UNITED STATES, AUG 7 – Wall Street fell 150 points as tariffs raise costs and lower profits for major companies, while investors anticipate Federal Reserve interest rate cuts to support the economy.
- On Thursday, stocks drifted on Wall Street after President Donald Trump’s latest tariffs took effect, causing the S&P 500 to fall by 0.5%.
- The administration outlined plans including 100% tariffs on computer chips, with exemptions for U.S. investments, and announced tariffs on medicines and semiconductors next week.
- Companies reported tariff-driven losses; Caterpillar warned costs would rise about $1.5 billion, Toyota cut forecasts, and KFC shares fell over 5%.
- Sentiment has shifted, with markets expect the Federal Reserve to lower rates as early as September and possibly further by year-end.
- Looking abroad, indexes rose across much of Europe and Asia, with Frankfurt's DAX, London's FTSE, and Paris's CAC gaining, reflecting mixed global reactions.
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The US Stock Exchanges do not know exactly where the journey is going: on the one hand, Trump's peace efforts make hope in the Ukraine war. On the other hand, the US President still leads customs stride with many countries.
U.S. shares rose on Thursday, despite the fact that President Trump's massive tariffs affected dozens of trading partners after his self-imposed deadline expired.At the same time, the market was driven by the technology sector for a second day in a row, following Trump's insinuation of a possible tariff exemption for semiconductors.The Dow Jones Industrial Average (^DJI) won 0.6%, while the S&P 500 (^GSPC) rose by 0.5%.The Nasdaq Composite (^IXI…
Coverage Details
Total News Sources30
Leaning Left7Leaning Right5Center12Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 29%
C 50%
R 21%
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