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Tariff Threat and Surging U.S. Inflation Roil Global Markets

U.S. consumer prices climbed more than expected, pushing Treasury yields higher ahead of President Trump's 30% tariffs on EU and Mexican imports.

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Overview

  • U.S. consumer prices rose more than expected in June, stoking fears of persistent inflation and lifting long-term Treasury yields.
  • The Dow Jones Industrial Average plunged 436.36 points on July 15 to 44,023.29 as investors digested the inflation report.
  • In Tokyo trading, the Yomiuri 333 index edged up 5.56 yen to 36,428.51 while the Nikkei 225 climbed 218.40 points to 39,678.02 on yen weakness.
  • The yen weakened to about ¥149 per dollar in New York, reaching its lowest level in roughly three months on widening U.S.-Japan rate differentials.
  • Markets remain on edge over President Trump's upcoming 30% tariffs on EU and Mexican imports set for August 1 and Japan's Upper House election on July 20.