Markets Plummet as Trump's Tariff Threats Go Global

Holy trade wars, Batman! U.S. stocks are taking a nosedive as President Trump ramps up his tariff threats, this time setting his sights on Japan and South Korea. It's like watching a real-life game of economic chicken!

On Monday, July 7, the Dow Jones took a hit, losing a whopping 470 points or 1.05%. The S&P 500 wasn't far behind, down 0.84%, while the tech-heavy Nasdaq Composite dropped 0.90%. It's like the whole market is holding its breath, waiting to see what Trump's next move will be.

Trump's latest threats? A 25% tariff on Japan and South Korea, with a stern warning against any retaliation. He's pointing fingers at these countries for the U.S.'s trade imbalances, claiming we import way more than we export. It's like a high-stakes game of global economics, and Trump's not backing down.

But wait, there's a twist! Despite all this tough talk, Trump had been saying that trade talks were going swimmingly. The White House even pushed back the deadline for these talks from July 9 to August 1, giving everyone a bit more breathing room. But then, out of nowhere, Trump throws in a threat of 10% tariffs on countries with "anti-American" policies. It's like trying to solve a puzzle with pieces that keep changing shape!

With all these mixed signals, traders are scratching their heads, wondering if these trade deals will ever see the light of day by the original July 9 deadline. It's like watching a high-stakes drama unfold, and we're all just waiting to see how it ends.

Tesla Shares Crash as Musk and Trump's Feud Heats Up

Meanwhile, in a twist that's straight out of a Hollywood script, Tesla shares are tanking 7.2% as Elon Musk and Donald Trump's feud reaches boiling point. Musk just dropped a bombshell, announcing the creation of the "America Party," a new political party to take on Trump and the Republicans. It's like watching a real-life superhero origin story!

Musk's beef with Trump? The recently passed budget bill that's blowing up the U.S. deficit and undoing all the savings made by Musk's DOGE department. But that's not all - Tesla's shares are also feeling the heat from the loss of electric vehicle tax credits in Trump's budget. It's like a double whammy for Tesla owners, who now have to shell out more for their eco-friendly rides. Buckle up, folks, because this ride is just getting started!