US stocks fall from records as tariff angst returns

Source: CNA | Original Published At: 2025-07-07 20:49:07 UTC

Key Points

• US stocks retreated from record highs after Trump's tariff announcements.
• Tariff threats target Japan, South Korea, and countries aligning with BRICS.
• Investors concerned about trade uncertainty and high equity valuations.

NEW YORK: Wall Street stocks fell Monday (Jul 7), retreating from records after President Donald Trump announced fresh tariff threats, reviving anxiety about trade uncertainty.

Both the S&P 500 and Nasdaq had closed at records last week following solid US jobs data and the passage of Trump’s sprawling fiscal package that extended tax cuts.

But Trump announced plans for 25 per cent levies on Japan and South Korea if the countries don’t reach a deal with Washington, while also warning of another 10 per cent tariff on countries aligning themselves with the emerging BRICS nations.

The moves lifted investor anxiety at a time when some investors have expressed worries about swelling equity valuations.