Stock Markets Steady Amidst Tariff Turbulence

Wall Street stocks concluded the day with marginal gains on Monday despite U.S. President Donald Trump's recent tariff threats. Investors largely remained unaffected by the looming trade tensions as a busy week of economic data and the start of the earnings season approached.

Over the weekend, Trump announced plans for a 30% tariff on imports from the European Union and Mexico beginning August 1st. In response, the EU extended its pause on retaliatory actions, indicating hope for a negotiated resolution. Talks with the EU, Canada, and Mexico are ongoing, although investor reactions were muted amid Trump's frequent tariff pronouncements.

The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all posted slight gains, maintaining recent upward trends. However, U.S. benchmark crude prices dropped by 2.2% following Trump's import tariff threats against buyers of Russian exports. This caused the energy index to decline, marking it as the worst-performing sector of the day.

(With inputs from agencies.)