Markets Brace for Trump's Tariff Deadline Showdown
Wall Street is diving into a volatile week as Trump's tariff deadlines approach. Share prices in major indices are falling, driven by renewed tensions between Elon Musk and Trump over policy disputes. Additionally, fluctuating oil prices and currency changes contribute to the economic uncertainty.
Market jitters surfaced on Wall Street as the Trump administration accelerates efforts to finalize trade deals ahead of a key deadline this Wednesday. The U.S. is preparing to warn trading partners about potential tariff hikes set for August 1st.
Futures for the major indices showed declines, with the S&P 500 and Nasdaq tilting downwards. Trade tensions also reignited between Elon Musk and Trump following disagreements over recent spending legislation.
In the midst of this, oil prices saw fluctuations as OPEC+ announced increased output, while currency markets witnessed a rise in the U.S. dollar. Global stock markets presented a mixed bag, reflecting the uncertainty gripping investors.
(With inputs from agencies.)
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