Traders work at the New York Stock Exchange on July 2, 2025.
NYSE
Stock futures traded mixed early Tuesday after U.S. President Donald Trump announced new duties on 14 countries, and extended the “reciprocal” tariff deadline to Aug. 1.
Dow Jones Industrial Average futures declined by 49 points, or 0.11%. S&P 500 futures were flat, and Nasdaq 100 futures ticked up 0.17%.
Those moves come after Trump posted more letters late Monday afternoon that brought the total number of countries facing steep tariffs on Aug. 1 to 14. Together, the countries hit by new duties are Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Laos, Malaysia, Myanmar, Serbia, South Africa, South Korea, Thailand and Tunisia.
Trump also signed an executive order extending the “reciprocal” tariff deadline to Aug. 1 from Wednesday, saying the decision was “based on additional information and recommendations from various senior officials.”
Wall Street is coming off a losing session for the major averages. The 30-stock Dow tumbled more than 400 points, or 0.9%. The S&P 500 fell 0.8%, while the Nasdaq Composite slid 0.9%.
Stocks slid as investors tracked rapid-fire developments on the trade front. Monday’s developments are expected to be the first of several this week. White House press secretary Karoline Leavitt said more letters can be expected in the coming days.
The president also threatened an additional 10% tariff on countries that align with the “Anti-American policies” of the BRICS nations which include Brazil, Russia, India and China.
Even with the pace of the announcements, many investors remain confident that the stock market has moved past the worst of the tariffs, hopeful that the upcoming earnings season could be the catalyst for an S&P 500 at all-time highs to continue its advance.
“If you go through the details, I don’t even know if anybody understands the difference between what was announced today, what was there previously, and if it will actually be implemented, and which companies it actually impacts,” Trivariate Research CEO Adam Parker said Monday on CNBC’s “Closing Bell.”
“So, I think it’s just a little bit of selling as we got the highs, and kind of recalibrating before July earnings season,” Parker added. “But I don’t think this is the sign of a new regime at all.”
— CNBC’s Kevin Breuninger contributed to this report.
