U.S. Imposes New Tariffs as Markets React Volatile

WASHINGTON, D.C. — U.S. stock futures showed slight movement Monday morning following President Donald Trump‘s announcement of steep tariffs on certain imports. Starting August 1, the U.S. will impose 50% tariffs on copper imports and goods from Brazil.

The announcement, made via letters posted on Trump’s Truth Social account, included warnings to the European Commission President Ursula von der Leyen and Mexico’s President Claudia Sheinbaum against retaliatory duties. Together, the EU and Mexico make up about one-third of U.S. imports.

U.S. stock futures were down 140 points, or 0.3%, but recovered slightly before the market open. Nvidia and Microsoft also experienced a drop of 0.3% in their pre-market trading.

In other news, cryptocurrencies surged as Bitcoin reached new heights, trading around $121,921 early Monday, attributed to record inflows into Bitcoin ETFs. The House of Representatives is considering new legislation aimed at establishing a regulatory framework for digital assets during what is referred to as ‘Crypto Week.’

On the corporate front, Delta Air Lines shares jumped nearly 12% in premarket trading after the company reported better-than-expected second-quarter results and reinstated its full-year projections, expecting adjusted earnings of $5.25 to $6.25 per share.

Additionally, reports suggested that cereal maker WK Kellogg is in talks for a possible acquisition by Italian chocolate maker Ferrero, with a deal expected to be worth around $3 billion.

As markets continue to sift through the implications of these tariffs and corporate announcements, the financial landscape remains uncertain ahead of further developments this week.