{"id":39715,"date":"2025-07-05T03:08:17","date_gmt":"2025-07-05T03:08:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/39715\/"},"modified":"2025-07-05T03:08:17","modified_gmt":"2025-07-05T03:08:17","slug":"stock-market-today-dow-futures-fall-as-trump-hints-as-70-tariffs","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/39715\/","title":{"rendered":"Stock market today: Dow futures fall as Trump hints as 70% tariffs"},"content":{"rendered":"

U.S. stock futures tumbled on Friday after President Donald Trump said he will start sending out letters<\/a> informing countries of what tariffs they will face. <\/p>\n

On Thursday, he told reporters that about \u201c10 or 12\u201d letters would go out Friday, with additional letters coming \u201cover the next few days.\u201d The rates would become effective Aug. 1.<\/p>\n

\u201cThey\u2019ll range in value from maybe 60 or 70% tariffs to 10 and 20% tariffs,\u201d Trump added.<\/p>\n

While U.S. markets were closed for the July 4 holiday, futures tied to the Dow<\/a> Jones Industrial Average dropped 251 points, or 0.56%. S&P 500 futures were down 0.64%, and Nasdaq<\/a> futures fell 0.68%.<\/p>\n

U.S. oil prices slipped 0.75% to $66.50 per barrel, and Brent crude lost 0.41% to $68.52. Gold edged up 0.11% to $3,346.70 per ounce, while the U.S. dollar fell 0.16% against the euro and 0.30% against the yen.<\/p>\n

The Trump administration has been negotiating with top trade partners since the president put his \u201cLiberation Day\u201d tariffs on a 90-day pause. <\/p>\n

That reprieve will expire on Wednesday, July 9. So far, only a few limited trade deals have been announced, and negotiations with other countries were expected to require more time. <\/p>\n

So as the Wednesday deadline approached, Wall Street was expecting Trump to announce an extension to the tariff pause by Tuesday, reviving the so-called TACO trade<\/a> that alludes to his history of pulling back from his maximalist threats.<\/p>\n

\u201cWe suspect that further last-minute concessions will be made to permit extensions for most countries, but a few of the \u2018worst offenders\u2019 may be singled out for punitive treatment,\u201d analysts at Capital Economics predicted earlier this week. \u201cMarkets seem to be positioned for a fairly benign outcome, implying a risk of some near-term turbulence if that fails to materialise.\u201d<\/p>\n

That assumes Trump won\u2019t risk a repeat of the epic April selloff that was triggered by his Liberation Day tariffs, and Capital Economics also warned such an assumption could be complacent. <\/p>\n

In fact, Trump has been saying for weeks that he prefers to unilaterally set tariffs with each country rather than engage in negotiations with all of them. But amid the absence of any letters, markets downplayed the risk that tariffs could spike again.<\/p>\n

Still, Trump has kept beating the drum about letters. In an interview that aired on Sunday, he was asked about the tariff pause<\/a> and the looming deadline.<\/p>\n

\u201cI\u2019d rather just send them a letter, very fair letter, saying, \u2018Congratulations, we\u2019re going to allow you to trade in the United States of America. You\u2019re gonna pay a 25% tariff or 20% or 40% or 50%,\u2019\u201d Trump replied. \u201cI would rather do that.\u201d<\/p>\n

When asked if the pause will not be extended, he said, \u201cI don\u2019t think I\u2019ll need to because\u2014I could\u2014there\u2019s no big deal.\u201d<\/p>\n

Trump further clarified his stance on the July 9 deadline, saying, \u201cI\u2019m gonna send letters. That\u2019s the end of the trade deal.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"U.S. stock futures tumbled on Friday after President Donald Trump said he will start sending out letters informing…\n","protected":false},"author":3,"featured_media":39716,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,3],"tags":[69,50,9580,4053,67,132,68],"class_list":{"0":"post-39715","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"category-us","9":"tag-donald-trump","10":"tag-news","11":"tag-stock","12":"tag-tariffs-and-trade","13":"tag-united-states","14":"tag-unitedstates","15":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114798428485179916","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/39715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=39715"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/39715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/39716"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=39715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=39715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=39715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}