Extension of US tariff deadline to August 1st comes as a reprieve for markets
By Ankur Chandra | Published at: Jul 8, 2025 09:07 AM IST
US equity markets fell yesterday. Profit booking was seen in US markets. US President Trump sent tariff letters to some of the major trading partners of USA. He said that countries such as Japan and South Korea will face tariffs as high as 25% from August 1st if they do not strike trade deals with US before that.
Nasdaq ended the day, 7th July, 2025 down by 188.59 points or 0.92%. S&P 500 ended the day, down by 49.37 points or 0.79%. Dow Jones ended the day, down by 422.17 points or 0.94%.
European markets closed the day in green yesterday. Euro Stoxx 50 ended the day, up by 52.73 points or 1%. Dax ended the day, up by 286.2 points or 1.20%. This after, industrial production in Germany unexpectedly increased in May by 1.2%, month-on-month. The expectation was that it would contract in the month. This strengthened expectations of recovery in Euro zone’s biggest economy. FTSE 100 ended the day in red, down by 16.38 points.
Asian markets start the day in green
Asian markets have opened strongly in green today. At 8:50 a.m. Indian Standard Time, 8th July, 2025, Nikkei 225 is up by 123.61 points or 0.31%. Hang Seng is up by 195.73 points or 0.82%. Shanghai composite is up by 15.99 points or 0.46%. Kospi is up by 34.19 points or 1.12%.
Indian equity markets are getting positive cues from foreign markets today. The extension of tariff deadline by USA to 1st August, has come as a reprieve. It has given more time to India and other countries to negotiate a trade deal with USA.
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Source: Dow Jones
