Trump Tariff Threat Shakes Global Markets

Major indices slip as tariff threats and tech momentum drive volatility.

Trump threatens tariffs up to 70% on key trading partners

TL;DR:

⚠️ Trump threatens tariffs up to 70%
🤖 Nvidia nears $4 trillion valuation
💼 BP appoints ex-Shell CFO to board
📊 U.S. consumer credit data due today

Trump Threatens Tariffs Up to 70%

President Trump escalated trade tensions by threatening tariffs ranging from 10% to 70% on major trading partners, with a July 9 deadline. The move has rattled equity markets, pressured global indices, and intensified uncertainty for multinational firms as investors brace for heightened volatility. Source

Nvidia Nears $4 Trillion Valuation

Nvidia's market capitalization surged to a record $3.9 trillion, fueled by robust investor demand for AI-driven growth. The chipmaker is on track to become the world’s first $4 trillion company, reinforcing its leadership in the semiconductor space and propelling tech sector momentum. Source

BP Appoints Ex-Shell CFO to Board

BP named Simon Henry, formerly Shell’s CFO, as a non-executive board member effective September 1. The appointment is seen as a strategic move to strengthen BP’s financial oversight and governance, signaling continuity and experience at the board level. Source

U.S. Consumer Credit Data Due Today

The Federal Reserve will release May’s consumer credit data at 3:00 PM ET, offering key insights into U.S. consumer borrowing and economic resilience. Market participants are watching for signs of credit stress or continued consumer strength ahead of the FOMC minutes. Source

Trump threatens tariffs up to 70% on key trading partners