President Trump signs executive order for higher tariffs to come into force

US equity markets ended the day in red, yesterday. This after US President Donald Trump signed an executive order regarding higher tariffs coming into force from August 1^st. He raised tariffs on all Canadian goods, that are not covered by US-Canada- Mexico trade agreement, to 35%. All countries with which US has a trade surplus will face tariffs of 10%. Countries with which US has trade deficit will face higher tariffs. The higher tariffs will start getting imposed by US Customs, reportedly, from August 7^th.

Nasdaq ended the day, yesterday, 31^st July, down by 7.22 points or 0.034%. S&P 500 ended the day, down by 23.51 points or 0.37%. Dow Jones ended the day, down by 330.30 points or 0.74%. Nasdaq’s decline yesterday was in spite of the good June quarter result posted by Apple. The company’s revenue increased by 10% year-on-year in the quarter.

Euro Stoxx 50 ended the day, down by 73.26 points or 1.36%. Dax ended the day, down by 196.75 points or 0.81%. FTSE 100 ended the day, down by 4.13 points or 0.045%.

Asian markets start the day mostly in red

Asian markets have opened today, 1^st August, 2025, mostly in red. At 8:50 a.m. Nikkei 225 is down by 155 points or 0.38%. Hang Seng is up by 2.03 points or 0.0082%. Shanghai Composite is down by 4.05 points or 0.11%. South Korean Kospi is down by 91.60 points or 2.82%. This, after the new South Korean government revoked the tax cuts put in place by the previous government.

Indian markets are unlikely to return back to positive territory until an Indo – US trade deal is reached. They may see another day in red today.

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Source: Dow Jones