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Stock Market Shaken by Weak Jobs Data and Trump’s Tariff Shock

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Stocks witnessed a dramatic tumble as August began, with Wall Street shaken by weaker-than-expected U.S. jobs data and a sudden rise in tariff rates announced by President Donald Trump. The stock market fell sharply, signaling renewed fears of a slowing economy. The Dow plunged over 500 points, while the Nasdaq and S&P 500 followed suit. Fresh tariffs on Canadian and transshipped goods, paired with poor payroll growth, cast a dark shadow over investor sentiment. Hopes of a Federal Reserve rate cut now appear too late to rescue the sinking confidence.

📰 STORY HIGHLIGHTS READ BOX:

  • Dow plunges 502 points; Nasdaq down 2.1% as economic jitters mount

  • July jobs rise only 73,000 vs. 100,000 forecast; prior months revised sharply down

  • Big banks slide: JPMorgan, BofA, Wells Fargo each fall over 3%

  • Fed rate cut odds surge to 66% as market bets on urgent policy response

  • Trump ramps up tariffs: Canadian imports now face 35% levy

  • Amazon falls 7% on weak forecast; Apple bucks trend with 2% jump

  • 25 S&P 500 stocks hit 52-week lows, many to early-pandemic levels

  • Only 7 reach new highs, including Northrop Grumman and CBOE

U.S. markets began the new month on shaky ground, as investors confronted a potent mix of disappointing employment data and intensified tariff pressures. The fragile optimism that had propped up equities in recent weeks gave way to widespread selloffs, rattling sectors from banking to tech.

The Dow Jones Industrial Average tumbled by 502 points, or 1.4%, as investors digested mounting evidence of an economic slowdown. The broader S&P 500 fell 1.6%, while the Nasdaq Composite suffered the steepest loss, dipping 2.1%, weighed down by dismal corporate guidance and a sudden shift in market sentiment.

At the heart of the downturn was July’s jobs report—a data point often viewed as a litmus test for the broader economy. Instead of the anticipated 100,000 gain in nonfarm payrolls, the economy managed to add only 73,000 jobs last month, according to the Labor Department. Worse yet, revisions to prior months painted an even grimmer picture: June’s figures were slashed to a mere 14,000 from 147,000, and May’s count was revised downward to just 19,000 from the previously reported 125,000.

This disheartening trend suggested not just a one-off miss, but a more entrenched softening in labor market momentum.

The market’s reaction was swift. Banking stocks, traditionally seen as bellwethers for economic health, took a heavy blow. JPMorgan Chase retreated by roughly 4%, while Bank of America and Wells Fargo both shed more than 3%. Investors grew wary of how a slower economy might crimp loan demand and squeeze financial margins.

Industrial giants weren’t spared either. Shares of GE Aerospace and Caterpillar slipped 3%, reflecting fears that demand for machinery and transport services may falter amid growing economic headwinds.

“The numbers gave the Fed the ammunition it needs now to cut in September,” said Jay Woods, Chief Global Strategist at Freedom Capital Markets.
“But unfortunately, now it looks too little too late.”

That sentiment echoed across trading floors. Just days ago, Federal Reserve Chair Jerome Powell had hinted at a more cautious approach, suggesting the central bank wanted to assess the impact of tariffs on inflation before making a move. But with labor figures faltering, market expectations pivoted quickly. Traders now place a 66% chance on a rate cut as early as September, according to CME Fed futures data—up sharply from midweek levels.

As if the labor news wasn’t enough, global trade tensions escalated after President Donald Trump moved forward with a round of modified tariffs. The White House announced overnight hikes ranging from 10% to 41%, including a new 40% penalty on goods transshipped in efforts to sidestep duties. In a particularly aggressive turn, Canadian imports—already facing a 25% tariff—will now be hit with a 35% levy.

Markets reeled at the breadth of the new duties, particularly given Canada’s status as a key U.S. trading partner.

Jeffrey Schulze, Head of Economic and Market Strategy at ClearBridge Investments, said the jobs report added a worrying dimension to already heightened trade anxieties.
“While investors have been viewing the start of the Fed’s cutting cycle as a positive for risk assets, today’s release is best characterized as ‘bad news is bad news.’”
“With job creation now hovering at stall speed, and a tariff wall looming ahead, there’s real concern that we could soon see negative payroll prints,” he warned.
“That may bring recession fears roaring back.”

Tech stocks—typically the engines of market optimism—also faltered. Amazon tumbled more than 7% after forecasting weaker-than-expected operating income for the current quarter, casting a shadow over the sector. However, Apple provided a rare bright spot, rising 2% after topping Wall Street’s earnings and revenue expectations.

The overall market mood remained tepid, despite upbeat results from companies like Microsoft and Meta Platforms earlier in the week. Thursday had already marked the S&P 500’s third straight daily decline. Early-session intraday highs evaporated as the tech rally lost momentum, leaving little resistance against Friday’s broader pullback.

In total, 25 S&P 500 companies touched new 52-week lows—a stark signal of declining investor confidence. Among them:

  • Charter Communications (lowest since May 2024)

  • Chipotle Mexican Grill (since Nov. 2023)

  • Lululemon, UnitedHealth, and UPS (each hitting levels unseen since early pandemic months)

  • Accenture, Dow Inc, CarMax, and Tyson Foods also marked fresh lows

On the upside, only seven S&P 500 stocks reached new highs.
These included:

  • Altria, trading at its best level since 2018

  • Northrop Grumman, hitting an all-time peak

  • CBOE Holdings, ResMed, American Electric Power, Evergy, and Xcel Energy, all reaching multi-year or record levels

Looking ahead, all eyes turn to how the Fed navigates mounting economic and geopolitical risks. As the delicate balance between policy and data becomes more urgent, investors are bracing for a volatile ride in the weeks to come.

As investors absorb the jolt of frail job growth and aggressive tariff revisions, the stock market stands at a critical crossroads. The sharp decline across major indexes reflects growing unease about the strength of the U.S. economy. While hopes for a timely Federal Reserve rate cut remain alive, they may no longer be enough to soothe market nerves. With trade tensions deepening and employment gains fading, Wall Street braces for turbulent days ahead—where every move, policy, or print could tip the fragile balance of investor confidence.

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Trump Brews Global Jolt with Brazil Coffee Tariff Bombshell

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In a striking blend of diplomacy and disruption, President Donald Trump has unveiled a steep 50% tariff on Brazil’s coffee exports, sending tremors through global trade circuits. The decision, tied partly to Brazil’s ongoing trial of ex-leader Jair Bolsonaro, arrives as Washington reopens weapon shipments to Ukraine amid a fierce Russian aerial blitz. On the same day, Trump hosted African dignitaries to bolster economic ties and appointed Sean Duffy as NASA’s acting head. With copper tariffs also announced, America’s trade winds are swiftly changing—and stirring headlines across continents.

🔹 STORY HIGHLIGHTS 🔹

  • 50% tariff imposed on Brazilian coffee, citing trial of ex-President Jair Bolsonaro.

  • Brazil provides over 33% of global coffee, raising concerns over consumer price hikes.

  • U.S. resumes weapons shipments to Ukraine amid rising Russian attacks.

  • Russia launches largest air assault since start of war, say Ukrainian sources.

  • Trump meets African leaders to deepen economic cooperation.

  • Sean Duffy named acting NASA chief, drawing mixed reactions.

  • Copper imports also hit with 50% tariff.

  • Senator Rubio to meet Russian counterpart in Malaysia.

As global reactions continue to develop, the administration shows no signs of stepping back from its assertive stance—whether on trade, diplomacy, or defense.

In a move that could send tremors through international trade and morning routines alike, President Donald Trump on Wednesday announced a 50% tariff on coffee imports from Brazil, the world’s largest coffee-producing nation. The decision, which immediately drew attention from global markets and diplomatic circles, is being linked not only to economic strategy but also to Brazil’s internal political tensions—particularly the ongoing trial of former President Jair Bolsonaro.

Speaking from the White House, a senior administration official said the move was aimed at “protecting American producers and sending a clear message to foreign governments” about political overreach. The administration cited the Brazilian Supreme Court’s trial of Bolsonaro, who is accused of supporting an attempted coup in 2023, as one of the underlying concerns.

“Brazil’s treatment of a democratically elected former president raises serious questions,”
a White House spokesperson stated.
“This tariff is about more than coffee—it’s about standing up for democratic values.”

The Brazilian government, which has yet to issue an official response, now finds itself in a precarious position. As the country supplies more than one-third of the world’s coffee, the implications are not just economic but also deeply political. Analysts suggest this could be interpreted as a message to left-leaning governments in Latin America.

Meanwhile, on the diplomatic front, Trump held a closed-door session earlier Wednesday in the State Dining Room with the leaders of Gabon, Guinea-Bissau, Liberia, Mauritania, and Senegal. The discussion, according to a readout, covered a range of topics including infrastructure investment, trade partnerships, and regional security in West Africa.

“Africa is an essential partner in building a resilient global economy,”
Trump told reporters briefly after the meeting.
“We’re here to strengthen that relationship.”

In another major development, the U.S. has resumed limited arms shipments to Ukraine. The Pentagon had paused these deliveries last week due to logistical concerns and internal reviews, but officials confirmed that some of the most critically needed supplies are now being delivered.

“The delay was short, but every moment matters in a conflict like this,”
a Pentagon official told ABC News.
“The resumed shipments will help support Ukraine’s frontline defense capabilities.”

The urgency of this aid was underscored by Russia’s overnight aerial attack, described by Ukrainian authorities as the largest air assault since the start of the invasion. The barrage targeted multiple cities and infrastructure sites, raising fresh alarms in European capitals and within NATO.

Elsewhere in Washington, Senator Marco Rubio is set to meet with his Russian counterpart in Malaysia, in what observers describe as a rare diplomatic encounter amid deteriorating U.S.–Russia relations.

In a separate announcement, President Trump appointed former congressman Sean Duffy as the acting head of NASA, replacing the outgoing administrator on an interim basis. The choice raised eyebrows in scientific circles, as Duffy’s background is primarily in transportation and law.

And in yet another tariff-related move, the White House confirmed that a 50% tariff on copper imports would also go into effect immediately, as part of a broader effort to “revitalize American industry”, according to administration officials.

As President Trump’s sweeping tariff on Brazilian coffee reshapes trade discourse, the move reflects a broader pattern of economic assertiveness intertwined with political signals. With Brazil’s global coffee dominance now facing pressure, and the Bolsonaro trial casting a long shadow, the decision underscores how swiftly diplomacy, trade, and geopolitics can collide. As markets brace for ripple effects and allies monitor America’s shifting posture, one thing remains clear—Washington’s latest brew of policy is bold, bitter, and bound to stir reactions far beyond the morning cup.

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B-2 Pilots Invited to White House, But Silence Ordered for July 4

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In a mission cloaked in secrecy and soaring ambition, B-2 bomber pilots who struck Iranian nuclear sites under “Operation Midnight Hammer” now face the spotlight—invited to the White House by President Trump, yet urged by defense officials to remain unseen. The June 22 airstrike, hailed by Trump as a total success, has sparked debate over its true impact. While the President promises hero’s applause on July 4, military voices cite security risks and digital threats. Behind the pride and protocol lies a silent tension between celebration and caution.

STORY HIGHLIGHTS

  • Strike Operation: “Operation Midnight Hammer” deployed 7 B-2 bombers and Tomahawk missiles targeting Iran’s nuclear sites at Fordo, Natanz, and Isfahan.

  • Mission Duration: Pilots flew over 36 hours non-stop from Whiteman AFB in Missouri.

  • Initial Damage Estimate: DIA assessed program setback of a few months, mostly above-ground destruction.

  • Revised View: CIA and Defense Secretary claim “years-long” setback based on updated intelligence.

  • Trump’s Reaction: President Trump slammed the media for “minimizing” the impact and said the pilots were “devastated” by the coverage.

  • Security Protocols: Air Force urges discretion; no public event is planned to honor the crews due to potential risks.

The pilots and aircrews who flew the high-stakes mission striking Iranian nuclear sites earlier this month are facing conflicting messages ahead of the July 4 holiday. On one hand, President Donald Trump has personally invited them to the White House, calling them heroes for their role in what he described as a devastating blow to Iran’s nuclear infrastructure. On the other hand, military officials have quietly urged the personnel to maintain a low public profile due to ongoing security concerns.

The mission—dubbed “Operation Midnight Hammer”—involved a daring round-the-world flight by 14 pilots aboard seven B-2 Spirit stealth bombers. These aircraft took off from Whiteman Air Force Base in Missouri and remained airborne for more than 36 hours as they delivered 14 precision-guided bunker-buster bombs on Iran’s key nuclear facilities at Fordo and Natanz. A third site, Isfahan, was struck using Tomahawk cruise missiles.

While initial reports from the Defense Intelligence Agency (DIA) suggested the strikes had inflicted substantial damage—particularly above ground, sealing off main access points to the underground facilities—the early analysis estimated Iran’s nuclear capabilities had only been delayed by several months. That assessment, first reported by CNN, reportedly infuriated President Trump.

According to two individuals familiar with the classified DIA report, although the entrances to two facilities were damaged or rendered inaccessible, the underground infrastructure largely remained intact. This raised questions about the long-term effectiveness of the operation and became a focal point of public debate.

President Trump, however, pushed back strongly against those claims, stating that the mission was a total success. During a recent public address, he expressed his frustration over what he called media efforts to “minimize” the mission’s impact.

“You know, I got a call from Missouri—great state that I won three times by a lot,” the former president said. “And I got a call that the pilots and the people on the plane were devastated because they [the press] were trying to minimize the attack.”

“I spoke to one of them [who] said, ‘Sir, we hit the site. It was perfect. It was dead on.'”

Trump reiterated that these men should be celebrated, not scrutinized.

“Because they don’t understand fake news, because they have a normal life except they have to fly very big, very fast planes. But it’s a shame. You should be making them heroes.”

In response to growing public attention, the Air Force released a statement cautioning against the release of sensitive operational details. Officials cited the increasing threat of digital surveillance and information warfare tactics used by adversaries, particularly targeting U.S. military assets and personnel.

“Our adversaries are skilled at exploiting the digital realm, collecting and analyzing open-source information, and leveraging advanced technologies to target U.S. military personnel, operations and activities,” the statement said.

“Airmen involved in sensitive missions are briefed on the risks and vulnerabilities posed by the changing information environment to assist in managing the public release of information in a manner that protects the safety and security of personnel and assets.”

Despite President Trump’s plans to honor the B-2 pilots and their crews at the July 4 celebration in Washington—which includes aerial flyovers by B-2s, F-22s, and F-35s—Pentagon sources say no public ceremony is scheduled. Officials also confirmed that the names of the pilots are being withheld, consistent with military protocol in sensitive missions.

Meanwhile, Defense Secretary Pete Hegseth and CIA Director John Ratcliffe have both offered a different take from the DIA’s preliminary report. Citing newly acquired intelligence, both officials now believe the Iranian nuclear program may have been set back by years, not months.

This new assessment aligns more closely with President Trump’s position, though no full public release of this intelligence has been made.

As the July 4 holiday approaches, the contrast between Trump’s open praise and the military’s cautious posture highlights the tension between public recognition and operational security. For now, the men behind the mission will remain largely out of view—saluted in spirit, but shielded from the spotlight.

As the Fourth of July approaches, the tension between national celebration and national security is on full display. While President Trump seeks to spotlight the B-2 bomber crews as patriotic heroes for their role in the Iran strike, the military remains focused on protecting its personnel from evolving global threats. The contrast underscores the complexities of modern warfare—where victories are measured not only by precision strikes but also by the quiet vigilance that follows. For the pilots behind Operation Midnight Hammer, honor may come not in parades, but in their continued silence.

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China Deal “Done” Says Trump—But Xi Yet to Seal the Pact

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A fresh wave of diplomacy stirs global attention as former U.S. President Donald Trump declares that a long-anticipated trade deal with China is “done,” though awaiting final approval from Chinese President Xi Jinping. The announcement, made after intense London talks, outlines major tariff adjustments and rare resource exchanges, along with continued student entry into U.S. universities. With both powers holding their cards close, the so-called “handshake for a framework” signals a high-stakes moment between the world’s largest economies—poised delicately between promise and pending power-play.

STORY HIGHLIGHTS

  • Trump declares U.S.-China trade deal “done,” pending personal approval from Xi.

  • U.S. to impose 55% tariffs; China to respond with 10%.

  • China agrees to provide rare earths and full magnets upfront.

  • The agreement includes continued access for Chinese students in U.S. institutions.

  • Commerce Secretary Lutnick calls it a “handshake for a framework.”

  • China’s Vice Premier He Lifeng warns, “China doesn’t want to fight, but it is not afraid of fighting.”

  • Next steps require formal approval from both presidents before rollout begins.

In a development that signals a potential turning point in one of the most complex trade relationships of the modern era, former President Donald Trump has claimed that the United States and China have completed a trade agreement, pending a final sign-off from the two heads of state.

Speaking via his Truth Social platform, Trump stated that the deal was in place and simply awaiting the green light from Chinese President Xi Jinping and himself. “Our deal with China is done, subject to final approval with President Xi and me,” he wrote, further noting the current state of bilateral ties as “excellent.”

This announcement follows a fresh round of negotiations held over two days in London — part of a longer chain of diplomatic engagements that included talks in Geneva and a direct phone call between Trump and Xi. These discussions come on the heels of Trump’s recent tariff hikes on a wide array of Chinese imports, a move that reignited global attention on the ongoing U.S.-China trade tensions.

Though specific terms of the deal are yet to be officially released by China, Trump revealed several key elements. According to him, the agreement stipulates that the United States will impose a total of “55% tariffs” on Chinese goods, while China will respond with “10%” tariffs. Perhaps more significantly, Trump added that China would commit to supplying “full magnets and any necessary rare earths, up front,” ensuring a critical stream of resources for U.S. industries.

In a gesture of reciprocal cooperation, Trump also indicated that the United States would honor commitments involving educational exchange, stating, “Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!).” This particular point suggests that despite escalating economic measures, the cultural and academic ties between the two nations remain intact — at least for now.

Earlier on Wednesday, Chinese state media cautiously confirmed that both countries had reached a trade “framework” during the London sessions. However, they stopped short of offering detailed specifics, perhaps in recognition that the agreement still requires formal approval from both leaders.

U.S. Secretary of Commerce Howard Lutnick, commenting late Tuesday, described the outcome as a “handshake for a framework,” emphasizing that it wasn’t yet a finalized deal. Lutnick pointed out that certain core decisions had been reserved for Trump and Xi, who would need to personally affirm the framework before any implementation begins. “Once that’s done, we will be back on the phone together and we will begin to implement this agreement,” Lutnick said. “The two largest economies in the world have reached a handshake for framework.”

Observers note that the phrase “handshake for a framework” indicates that the discussions have moved into a pre-decisional stage — not yet binding, but significant enough to lay down markers for what could be a historic economic accord between the U.S. and China.

Representing China at the talks was Vice Premier He Lifeng, who reportedly struck a balanced tone in his official remarks while also delivering a firm message to the American delegation. Citing the state-run Xinhua News Agency, He emphasized that “disputes between the two should be resolved through equal dialogue and mutually beneficial cooperation.”

However, other Chinese-language media sources suggested that He took a more pointed stance behind closed doors. He reportedly cautioned that “there is no winner in a trade war,” and added with resolve, “China doesn’t want to fight, but it is not afraid of fighting.” The dual tone reflects Beijing’s intent to project diplomacy publicly while maintaining firmness in negotiation.

While many questions still remain — including what exact concessions have been made, and how enforcement will be monitored — the declaration from both parties that a framework is in place is a significant step forward after years of volatile back-and-forth.

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