U.S. Stocks Drop as Trump Tariff Blitz Targets 20+ Countries

U.S. equities closed lower on Friday, snapping Thursday's rally and capping a red week for Wall Street, as investors reacted to President Donald Trump's announcement of a 35% tariff on Canadian imports and fresh threats targeting over 20 other countries.

• Dow Jones: -279.13 points (-0.63%) to 44,371.51

• S&P 500: -0.33% to 6,259.75

• Nasdaq Composite: -0.22% to 20,585.53

The S&P 500's Thursday all-time high was short-lived, as trade war fears returned with force ahead of the weekend.

What Triggered the Selloff?

Markets had shown resilience in recent weeks, shrugging off tariff announcements on copper, pharma, and semiconductors. But the breadth and aggressiveness of Friday's new measures finally weighed on sentiment.

Trump's latest move—targeting major U.S. trade partners—spurred concern about:

• Global retaliation

• Rising import costs

• Inflationary pressures

• Fed policy uncertainty

What's Next: CPI, Retail Sales, Earnings Season

Investors now turn to key macro data and the Q2 earnings season for clarity.

• June CPI (due Tuesday): Forecast to rise 0.3% MoM

• Retail Sales (Thursday): Set to gauge consumer strength

• Big Banks Kick Off Earnings Week: JPMorgan, Citigroup, and Wells Fargo are up first

The Federal Reserve's rate outlook remains clouded, as officials warn that tariffs may fuel inflation, complicating potential policy easing.

Market Implications: Watch the Downgrades

As economic and earnings risks rise, expect analyst revisions and rating shifts across trade-exposed sectors—especially industrial, tech, and consumer discretionary.

Stay ahead of analyst moves with the Up/Down Grades by Company API, which tracks daily changes in analyst sentiment, outlook, and valuation models across U.S. and global stocks.

Additionally, broader market sentiment may deteriorate further if macro data disappoints or trade headlines worsen.

Monitor evolving company fundamentals using the Company Rating API, which offers a composite outlook on financial health, valuation, profitability, and market risk.