After the Fourth of July celebrations, U.S. stocks opened slightly lower, reflecting investor concerns over new tariff comments.
State of the Stock Market
On Monday, July 7, the S&P 500 saw a decline of 0.3%. The Dow Jones Industrial Average fell by over 100 points, or 0.25%, while the Nasdaq Composite opened lower by 0.6%.
Comments from the Treasury Secretary
U.S. Treasury Secretary Scott Bessent stated in an interview with CNBC that key trade agreements are expected in the coming days. 'We have a busy couple of days ahead,' he noted.
Threats of Additional Tariffs
President Donald Trump has threatened to impose additional tariffs on countries associated with BRICS—a new bloc including Brazil, Russia, India, and China. Bessent emphasized that new tariffs will take effect on August 1, 2025, extending Trump's initial deadline.
The decline in the stock market is accompanied by increased uncertainty due to tariff initiatives and impending trade agreements, raising concerns among investors.
