Here are the top U.S. news headlines happening today:
đź“° Key Developments in U.S. News
1. Wall Street Futures Tumble as Tariff and Amazon Concerns Hit Market
U.S. stock futures plunged Friday: Dow futures dropped ~489 points (‑1.1%), S&P 500 down 1.17%, and Nasdaq‑100 off 1.32%, as new tariffs from President Trump rattled investors and Amazon shares slumped 8.3% ahead of the open. Apple rose slightly despite warning the tariff measures will cost $1.1 billion.
2. Tariffs Imposed on Dozens of Countries
President Trump issued executive orders enacting tariffs of 10% to 41% on imports from 69–92 trading partners, including Canada (35%), Brazil (50%), India (25%), Taiwan (20%), and Switzerland (39%). Mexico received a 90‑day reprieve, while Europe and Japan secured lower 15% rate deals.
(Reuters)
3. Federal Reserve Officials Express Rare Dissent
Two Fed policymakers—Vice Chair Michelle Bowman and Governor Christopher Waller—dissented at the July meeting, arguing the labor market is weakening and that rate cuts may be needed despite headline inflation. This marks the first split in the FOMC since 1993.
(Reuters)
4. Global Markets Slide Amid Trade Turmoil
European indexes like the DAX, CAC 40, and FTSE 100 fell between 0.6% to 2.1%, while Asian markets such as Korea’s Kospi (‑3.9%), Nikkei (‑0.7%), and Hong Kong’s Hang Seng (‑1.1%) also dropped markedly.
(apnews.com)
5. Safe-Haven Assets Strengthen
Gold prices rose 0.3% to $3,299 /oz amid heightened uncertainty, though spot prices remain down 1.4% for the week. Precious metals like silver, platinum, and palladium also posted weekly losses.
(Reuters)
6. Other Highlights: Political & Diplomatic Moves
Cambodia announced plans to nominate Donald Trump for the Nobel Peace Prize, an unexpected move given the contentious global landscape.
(usnews.com)
South Korea reports no written U.S. trade deal agreement signed yet.
(usnews.com)
🧠Why It Matters
| Theme | Why It’s Significant |
|---|---|
| Tariffs & Trade Shocks | New weighty duties are stoking global and domestic economic instability. |
| Financial Market Volatility | Sharp declines in equities and rebound in safe assets like gold signal investor caution. |
| Labor & Inflation Risks | Fed officials warn of labor market weakness triggering calls for rate cuts despite inflation fears. |
| Global Market Reassessment | Investors are reevaluating U.S. market dominance amid trade disruption and fiscal risks. |
Would you like to dive deeper into any topic—such as tariff impacts on energy or agriculture, regional Fed commentary, or inflation signals in commodities?