US stocks showed mixed movements with the S&P 500 and Nasdaq Composite indexes recording little change, after President Donald Trump called for the implementation of new tariffs on products from the European Union (EU).
According to the Financial Times (FT), the Trump administration plans to impose minimum tariffs between 15% and 20% in any agreement with the EU, causing the market to decline before partially recovering.
The S&P 500 index average fell 0.01% to 0.57 points, the Dow Jones fell 0.32% to 142.30 points, while the technology-focused Nasdaq rose 0.05% to 10.01 points.
Investors remained wary of Trump's tariff threats, although they were confident that the move would not have a major impact on the US economy.
In other developments, the US corporate earnings season began this week with mixed market reactions. American Express beat second-quarter profit estimates, but its shares fell 2.3%.
Meanwhile, cryptocurrency stocks rose after the US House of Representatives passed a regulatory bill. Robinhood and Coinbase Global markets rose 4.1% and 2.2%, respectively.
Netflix shares fell 5.1%, although the success of the series "Squid Game" helped the company beat revenue expectations.
