Overview

• President Trump’s announcement of 30% tariffs on EU and Mexican imports effective August 1 sent Dow e-minis down about 0.3%, S&P 500 futures off roughly 0.28% and Nasdaq 100 futures down around 0.3%.
• Asian markets traded mixed with Hong Kong’s Hang Seng and Shanghai Composite up about 0.5% while Tokyo’s Nikkei and India’s Nifty and Sensex dipped on trade uncertainty.
• The European Union extended its suspension of countermeasures to U.S. tariffs into early August and continues to press for a negotiated settlement.
• Analysts say investors view the tariff threats as negotiating leverage, which has restrained volatility in equities.
• Bitcoin surged past $120,000 to a new record high as investors sought alternative assets following broader market caution.