Stock Market Stalls After Trump Pauses Tariffs on Canada
U.S. stock futures stalled after President Donald Trump announced he would pause tariffs on Canadian goods for three days, citing a potential deal between the two nations. The decision came following last-minute negotiations and was posted late Tuesday night via Truth Social. Futures for the Dow Jones Industrial Average rose slightly by 0.1%, while S&P 500 futures remained near flat, and Nasdaq-100 contracts fell by 0.2%. Markets remain under pressure due to rising bond yields, higher oil prices, and a tech stock sell-off earlier in the week. Asian markets also struggled overnight with Japan's Nikkei index falling nearly 3% and South Korea’s KOSPI dropping over 5%, offering little relief for global investors. While economists suggest that these tariffs would have had limited economic impact, they highlight ongoing trade tensions ahead of potential USMCA negotiations. Investors are now looking to the Federal Reserve's upcoming meeting minutes from July as well as earnings reports from major retailers like Target and Lowe’s for further insight into market direction.
Topics: canada-us trade futures movement stock market trump tariffs