Trump Unveils Broad New Tariffs, Markets Mixed

President Donald Trump introduced new tariffs including a 50% levy on copper imports and threats of up to 200% tariffs on pharmaceuticals, effective August 1 with no further negotiating extensions. The announcement caused mixed reactions in global markets: the S&P 500 and Nasdaq closed near flat, while the Dow declined slightly, and copper producers saw gains. Asian indexes responded unevenly, with Japan's Nikkei and South Korea's Kospi rising but Hong Kong and Australia declining. Regional leaders are seeking last-minute negotiations with the U.S. before the tariff deadline. U.S. energy and materials stocks outperformed, while consumer staples and financials lagged as volatility persisted. Investors remain cautious amid the risk of Chinese retaliation and uncertainty ahead of further economic data and earnings reports.