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Stock futures dip, U.S. dollar gains on Trump tariffs

U.S. equity-index futures dipped and the dollar strengthened after Trump said he plans to impose “blanket tariffs” on most trading partners.

Updated
2 min read
S&P/TSX composite down more than 100 points, U.S. stock markets also head lower

Options trader Steven Rodriguez works on the floor of the New York Stock Exchange, Tuesday, July 8, 2025.


Stocks lost momentum and the dollar strengthened after President Donald Trump ratcheted up trade tensions yet again by suggesting higher tariff rates on most trading partners.

Contracts for the S&P 500 fell 0.5% and a gauge of the dollar rose 0.2% after Trump said in an interview with NBC News Thursday he plans to impose blanket levies of 15% or 20%. The current blanket tariff rate is 10%. The president plans to make a “major statement” on Russia and he is also mulling the use of sanctions.

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