U.S. stock markets showed mixed results on July 8 due to renewed trade tensions affecting investor sentiment.
Stock Index Performance
On July 8, U.S. stock markets displayed mixed results. The Dow Jones Industrial Average fell by 108 points, or 0.24%, amid rising investor concerns over potential new tariffs. In contrast, both the S&P 500 and Nasdaq Composite posted marginal gains of 0.08% and 0.18%, respectively.
Impact of Trade Tensions
Banking and consumer-facing firms listed on the Dow Jones were among the hardest hit. JP Morgan dropped 3.5%, despite reports of potential expansion in Italy. Amazon and Walmart also saw declines of 1.26% and 1.57%, respectively, largely due to their significant exposure to the Chinese market.
Crypto Market Remains Stable
Crypto markets remained relatively unchanged, with Bitcoin rising 0.47% over the last 24 hours. The overall crypto market cap increased by just 0.13%, while Ethereum stood out with a 2% gain.
Trade tensions are noticeably impacting U.S. stock indices, while the crypto market shows stability. Investors continue to monitor the evolving situation in international trade relations.
