Significant losses were noted by markers In the start of the week at Wall Streettoday Monday (7.7.2025), after sending letters from US President Donald Trump to various countries, imposing new tariffs on imported products.
The Dow Jones industrial index lost 422.17 points, or 0.94%, and closed at 44,406.36 points. The S&P 500 fell 0.79% and closed at 6,229.98 points and Nasdaq lost 0.92% and closed at 20,412.52 points. It was the worst day since mid -June and for the three main markers of Wall Street.
Imports from at least seven countries will face high duties since August 1, Donald Trump revealed in a series of posts on Truth Social today.
Trump shared screenshots of signed letters to the leaders of South Korea, Japan, Malaysia, Kazakhstan, South Africa, Laos and Myanmar, which were determined by the new tariff rates. As revealed, the US will impose 25% duties on imported products from Japan, South KoreaMalaysia and Kazakhstan, 30% for products from South Africa and 40% for products from Laos and Myanmar.
The main indicators reached the lowest level of the day in the afternoon.
White House spokesman Caroline Levit said that 14 letters will be sent Monday, and more is expected to be sent in the coming days. He added that Trump would sign an executive decree to postpone the duties deadline, which was initially provided for some time this week until August 1st.
Toyota’s shares fell 4% and Honda 3.9% after Trump’s posts. Nvidia fell slightly, while Apple and Alphabet lost more than 1%. AMD lost over 2%.