Wall Street Mixed as US Tariff Deadline Nears August 1

On July 8, 2025, U.S. financial markets displayed mixed performance amid heightened uncertainty over President Donald Trump's new tariff measures targeting Japan, South Korea, and a dozen other countries with duties effective August 1. The S&P 500 and Nasdaq Composite saw marginal gains, while the Dow Jones Industrial Average declined slightly, reflecting investor caution as Treasury yields rose and technology stocks, particularly semiconductors, led gains. Trump reiterated on Truth Social that the tariff deadlines are firm and warned trading partners against retaliatory measures, threatening steeper duties if they do so. Despite market jitters, some optimism remains with hopes for new trade deals before the August deadline, as well as ongoing trade talks between the U.S. and its partners, which have so far resulted in revised agreements with Britain and Vietnam. European and Asian markets showed cautious gains, supported by optimism over a potential temporary EU-US trade framework, even as bond yields climbed and sectors like retail faced pressure. Overall, investors remain watchful for the impact of tariffs alongside upcoming earnings reports and inflation data that could further influence market direction.