Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
U.S. stock index futures dipped Sunday night as fears of a deepening global trade war resurfaced. President Donald Trump announced sweeping 30% tariffs on imports from Mexico and the European Union, expanding his aggressive tariff agenda following similar levies on Canada, Japan, South Korea, and Brazil.
By 7:17 p.m. ET, S&P 500 Futures dropped 0.4% to 6,274.0, Nasdaq 100 Futures slipped to 22,859.0, and Dow Jones Futures fell 0.4% to 44,417.0. The pullback reflects growing concerns over inflationary pressure and market volatility ahead of key U.S. economic data.
The tariffs, effective August 1, give targeted nations a brief window to negotiate exemptions. Trump, who delayed the initial deadline from July 9, confirmed ongoing talks with the EU and South Korea aimed at averting the new levies.
These trade measures have pushed U.S. customs duty collections to a record $113.3 billion in the first nine months of fiscal 2025, with Treasury Secretary Scott Bessent projecting $300 billion by year-end. However, economists warn the tariffs are ultimately paid by U.S. importers, who may pass costs to consumers, stoking inflation.
Wall Street has already reacted. On Friday, the S&P 500 fell 0.3% to 6,259.75, the NASDAQ dropped 0.2%, and the Dow shed 0.6% to 44,371.51.
Markets now await June’s CPI inflation report, due Tuesday, to assess the direct impact of tariffs on consumer prices. Both headline and core inflation are expected to rise. The Federal Reserve has flagged trade tensions as a source of inflation risk and uncertainty, justifying its cautious stance on rate cuts—despite Trump’s repeated calls for lower rates and criticism of Fed Chair Jerome Powell.
