Traders work at the New York Stock Exchange on July 2, 2025.
NYSE
U.S. stock futures fell overnight as investors tracked rapid-fire developments on the trade front, including new tariffs announced Monday on 14 countries.
Dow Jones Industrial Average futures declined by 87 points, or 0.19%. S&P 500 futures and Nasdaq 100 futures dipped 0.16% and 0.15%, respectively.
Those moves come after a losing session for the major averages. The 30-stock Dow tumbled more than 400 points, or 0.9%. The S&P 500 fell 0.8%, while the Nasdaq Composite slid 0.9%.
Stocks slid after the latest trade updates out of the White House. On Monday, the president posted letters outlining tariff rates on 14 countries to go into effect Aug. 1 that are more severe than investors were expecting. Those countries hit by new tariffs are Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Laos, Malaysia, Myanmar, Serbia, South Africa, South Korea, Thailand and Tunisia.
Those announcements are expected to be the first of several coming out of the White House this week. White House press secretary Karoline Leavitt said more letters can be expected in the coming days. She added that Trump will sign an executive order to extend his tariff deadline to Aug. 1 from his original trade deadline sometime this week.
The president also threatened an additional 10% tariff on countries that align with the “Anti-American policies” of the BRICS nations which include Brazil, Russia, India and China.
Even with the pace of the announcements, many investors remain confident that the stock market has moved past the worst of the tariffs, hopeful that the upcoming earnings season could be the catalyst for an S&P 500 at all-time highs to continue its advance.
“If you go through the details, I don’t even know if anybody understands the difference between what was announced today, what was there previously, and if it will actually be implemented, and which companies it actually impacts,” Trivariate Research CEO Adam Parker said Monday on CNBC’s “Closing Bell.”
“So, I think it’s just a little bit of selling as we got the highs, and kind of recalibrating before July earnings season,” Parker added. “But I don’t think this is the sign of a new regime at all.”
— CNBC’s Kevin Breuninger contributed to this report.