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Stocks wobble as new Trump tariffs take effect, oil and bonds move
The S&P 500 held near flat while Brent crude slid 2.8% to below $98 per barrel, as markets weighed Section 301 tariff levels of 10.0% to 12.5% alongside bond-yield pressure.
US stocks edged between gains and losses on Friday as investors digested a new round of global tariffs taking effect alongside AI-related jitters, rising oil prices, and elevated bond yields, according to Yahoo Finance.
In early trading, the Dow Jones Industrial Average rose 0.1% and the S&P 500 was near flat, while the Nasdaq Composite slipped 0.1% as Wall Street tried to stabilize after Thursday's sharp sell-off led by megacap technology names.
President Trump’s latest set of Section 301 tariffs targeting nearly all US imports went into effect overnight, with rates of 10.0% to 12.5% on the US’s top trading partners, while some energy products were exempted as markets weighed the implications for inflation expectations.
Brent crude futures fell 2.8% to trade below $98 per barrel, even as the benchmark was set for a weekly gain after touching $100 per barrel, and investors also looked ahead to S&P Global’s flash purchasing managers index updates for July and new home sales, alongside earnings from Verizon and American Express that beat profit estimates but missed revenue expectations.
Latest closeWTI crude $92.23 ▲6.2%|Brent $100.54 ▲6.9%|S&P 500 7,408.30 ▼1.2%