Shares of telecommunications company SK Telecom — which is part of SK Group, one of South Korea’s largest conglomerates — fell more than 7%. The Bloomberg Dollar Spot Index hit its highest level since June 26 and most global currencies slumped, with Japan’s yen and South what does a forex spread tell traders Korea’s won sinking more than 1%. Brazilian President Luiz Inacio Lula da Silva joined South Africa in blasting Donald Trump for his threat to slap extra tariffs against the BRICS, escalating a spat with the US leader during the final day of hosting the 10-member group. Epic Games Inc. settled its antitrust case against Samsung Electronics Co. that alleged the company was conspiring with Alphabet Inc.’s Google to block rival app marketplaces through default settings on mobile devices sold by the electronics giant. The fire began on the seventh floor of the 10-story telecom building in the capital’s downtown, Egypt’s state-run news agency MENA reported. It cited a security official as saying preliminary examination indicated the fire was likely caused by an electrical short circuit.

The shares included in it are weighted according to price; the index level represents the average of the shares included in it. Chilean copper mines had their best month of export revenue in more than three years in June, with the increase in value outstripping price gains in a sign of rising production. The chief executive officer announced over the weekend that he’ll take on Republicans and Democrats with the “America Party,” focusing on House and Senate seats for the next 12 months. After that, backing a candidate for president isn’t out of the question, Musk wrote on X. His remarks came just days after New York City mayoral frontrunner Zohran Mamdani, a state assemblyman from Queens, vowed to sever all ties between city agencies and ICE if elected in November.

Nvidia was slightly lower, while Apple, Alphabet and AMD shed over 2%. The inclusion of a company in the Dow Jones Industrial Average does not depend on defined criteria. Instead, an independent Wall Street Journal commission decides whether a share is to be included or excluded.

Is Trump’s tariff strategy moving toward diplomacy?

The move is part of Trump’s rush to overhaul US trade policies that have served as a steady source of uncertainty for markets, which has helped bolster demand for gold, a safe-haven asset. The two Asian nations now have a narrow three-week window to open their markets to American products and manufacture more in the US to avoid his unilateral levies. Stocks sold off to start the week on Monday (July 7) after President Donald Trump posted letters to countries indicating new tariffs on imported goods. “Regardless of the news, the market came into this week trading very extended,” writes Bespoke Investment Group’s Justin Walters.

Why some investors are calm about Trump’s tariffs

“In the S&P 500, 57.2% of stocks were overbought coming into today. That is at the very top of the range this reading has been in over the last year. Don’t be surprised to see further downside mean reversion until these overbought levels get worked off.” Benchmark futures added 0.5% on Monday, after posting a small weekly gain through Friday. The US is preparing to start delivering letters to dozens of countries in the coming days, with the Trump administration’s 90-day pause on higher duties set to expire on Wednesday. Copper and other industrial metals extended losses after US President Donald Trump injected fresh uncertainty into his trade agenda with a pledge to impose a 10% tariff on countries aligned with the BRICS bloc of nations. The won plunged as much as 1.1% to trade at 1,378 per dollar, the lowest in two weeks, after Trump announced the trade levy in a social media post.

The first announcement from Trump placed tariffs of at least 25% on goods from Japan and South Korea starting August 1. Details on sectoral tariffs geared toward boosting US industrial production, including of aluminum, steel and copper, are still under discussion. Lula said the US president was “irresponsible for threatening tariffs on social media” before calling on world leaders to find ways to reduce international trade’s reliance on the dollar, a position shared by the group of emerging market nations. Gold pared losses after President Donald Trump said he’ll impose 25% tariffs on goods from Japan and South Korea starting August 1, the first announcements in what the US president promised would be a flurry of written warnings and trade deals on Monday. President Donald Trump announced Monday that the US would hit products from Japan and South Korea with 25% tariffs, sending shares of Toyota and Honda down.

US Stock Market LIVE Updates: US-listed shares of SK Telecom, LG Display slide

• The yield on the 2-year Treasury note rose to 3.9%, while the 10-year yield was up to 4.39%.
• The initial rollout of Trump’s so-called reciprocal tariffs in early April sparked fears of a US recession and sent energy prices tumbling on expectations that a weaker economy will curb demand.
• After that, backing a candidate for president isn’t out of the question, Musk wrote on X.
• Lula said the US president was “irresponsible for threatening tariffs on social media” before calling on world leaders to find ways to reduce international trade’s reliance on the dollar, a position shared by the group of emerging market nations.

US stock market steadied Tuesday as Trump’s tariff deadline delay gave investors hope for new global trade deals. The Dow Jones, S&P 500, and Nasdaq futures showed modest movement after Trump extended the July 9 tariff start date to August 1, offering trading partners more time to negotiate. Countries like South Korea, Malaysia, and Indonesia now have breathing space to respond. While markets remain cautious, the delay sparked optimism that Trump’s firm-yet-flexible stance may open the door for diplomatic progress.

• The shares included in it are weighted according to price; the index level represents the average of the shares included in it.
• Trump, in a pair of Truth Social posts, shared screenshots of letters apparently sent to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung dictating the new tariff rates.
• With the trade war back in focus this week, investors are wondering Trump will once again ease his toughest tariff talk and avoid roiling stocks.
• Countries like South Korea, Malaysia, and Indonesia now have breathing space to respond.

West Texas Intermediate crude advanced more than 1% to settle just below $68 a barrel, erasing earlier losses, while Brent settled above $69 a barrel. Saudi state producer Aramco will raise the price for Arab Light crude, its flagship grade, by $1 a barrel to $2.20 a barrel more than the regional benchmark for Asian customers in August, according to a sheet from the company seen by Bloomberg. The force index indicator is a technical tool used by traders to measure the power behind movements in the price action. Trump’s trade advisor Peter Navarro ripped into Apple’s reliance on China on Monday. The Federal Reserve can’t assume its benchmark lending rate won’t return to zero at some point in the future, according to a group of New York Fed researchers including the bank’s president, John Williams.

DJI news

Investors now await the Fed minutes and Delta’s earnings to see what’s next for the economy. White House press secretary Karoline Leavitt said that 14 letters will be sent on Monday, with more to be expected in the following days. She added that Trump will sign an executive order to delay his tariff deadline, previously anticipated to be sometime this week, until August 1.

Thank you for joining our coverage of the US stock market

The United States will impose 25% blanket tariffs on imports from Japan and South Korea starting August 1, President Donald Trump revealed Monday. Monday in New York, wiping out $16.7 billion from his net worth, according to the Bloomberg Billionaires Index. If that drop were to hold, it would be the biggest decline for the shares since Musk’s initial falling out with Donald Trump over the president’s tax bill in early June. A 100% “surge in power outages” is expected within five years if planned power plant closures remain on schedule without new units to replace them, the Energy Department, which is releasing the report on Monday, said in a statement.

If he simply brings them back in full, the major indexes have shown how far they can fall. Please bear with us as we address this and restore your personalized lists. The country that accounts for about a quarter of the world’s mined copper shipped $4.7 billion worth of the metal last month, the biggest haul since December of 2021, according to data released by the Chilean central bank on Monday. Treasury Secretary Scott Bessent said Monday on CNBC’s “Squawk Box” that there would be several trade announcements over the next 48 hours, adding that he expects “it’s going to be a busy couple of days.” However, Bessent did not specify which countries would be involved. Both letters say that the 25% tariffs are separate from additional sector-specific duties on key product categories. Trump, in a pair of Truth Social posts, shared screenshots of letters apparently sent to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung dictating the new tariff rates.

US Equities Markets End Higher Monday as Oil Prices Drop

European natural gas prices edged higher as traders eyed US President Donald Trump’s fast-approaching tariff deadline and the impact levies will have on global economic activity. The market’s slide followed a wave of tariff threats from President Donald Trump, including a fresh one toward Brics countries. Selling picked up after Trump posted several letters to world leaders promising tariffs ranging from 25% to 40% starting on Aug. 1 if they do not make a deal in the meantime. The initial rollout of Trump’s so-called reciprocal tariffs in early April sparked fears of a US recession and sent energy prices tumbling on expectations that a weaker economy will curb demand. For Europe, which competes with other nations for liquefied natural gas cargoes, a further drop in prices could help ease its efforts to replenish fuel stockpiles ahead of next winter. Treasury Secretary Scott Bessent said Monday that the US will make several trade announcements in the next 48 hours.

South Korean assets plunged to session lows after President Donald Trump announced a 25% tariff on the nation’s goods, ratcheting up tension with one of the most important trading partners to the US. The pricing move staved off a rout in oil after a simultaneous decision by eight OPEC+ nations to increase supply more rapidly than expected, adding 548,000 barrels a day in August, with more expected in September. The yield on the 2-year Treasury note rose to 3.9%, while the 10-year yield was up to 4.39%. Andrew Brenner, head of international fixed income at NatAlliance Securities, wrote that bonds were under pressure after Trump signed his tax bill into law with markets closed on Friday. The major indexes cut a small chunk of their declines in the final 15 minutes of trading.

“Network data show national connectivity at 62% of ordinary levels” after the fire was reported, it said in a post on X. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc. With the trade war back in focus this week, investors are wondering Trump will once again ease his toughest tariff talk and avoid roiling stocks. That’s 17% more than the same month last year, signalling that at least part of the increase was the result of higher volume given prices rose 11% on average over the same period. Stocks fell Monday as traders weighed the latest developments on the trade front to start the week.